Bill Harris, founder of PayPal writes:
”In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen. In a pump-and-dump game, promoters “pump” up the price of a security creating a speculative frenzy, then “dump” some of their holdings at artificially high prices. And some cryptocurrencies are pure frauds. Ernst & Young estimates that 10 percent of the money raised for initial coin offerings has been stolen.”
What do you think, will we look back a couple of years from now and consider the tulip hysteria the second most significant crash of all times?
(Photo by Zach Taiji at Unsplash)