Anticipating the Boom-bust Cycle in Cryptocurrencies: When does an Ecosystem Become an Echo-chamber
The cryptocurrency market experienced its best year ever in 2017. A number of people became rich overnight by being smart or just plain lucky. The boom also made several new funds the new darlings of the industry. Olaf Carlson-Wee and his crypto fund Polychain were undoubtedly among the biggest winners. After turning $4 million into $10 billion, Olaf set a sample for the crypto investment world. However, according to a WSJ article published last month, following the crypto market crash this year, Olaf’s legend may well be short-lived.
However, without hearing from many of the investors who pulled their money out of Polychain directly, we are still not quite sure of their version of the story. Although Polychain is a relative latecomer, many backers were some of the fund industry’s most seasoned veterans. Their view on this emerging asset class is still unclear to the public.
Here, I would like to share an exclusive interview with Jeffrey Tarrant, the founder of Protégé Partners and Mov37, also a guest on my docuseries “Next: Blockchain”, by our contributor Niki Natarajan, the founder of In Ink and an asset management journalist with more than 20 years’ experience. In this piece, they discuss Tarrant’s investment experience in crypto funds including Polychain and his view on cryptocurrencies and blockchain.Read full article →