I have just a quick update for everyone this week.
I’m in Washington, D.C. today and tomorrow, where my friends at The Oxford Club invited me to speak to some of their Members about cryptocurrencies and equity crowdfunding.
It was a volatile week for cryptocurrencies. Bitcoin briefly touched a new all-time high of $5,000, and most other coins rallied strongly. Then an announcement that China would ban ICOs (initial coin offerings) shook markets, and most crypto assets dropped around 20%.
However, this turned out to be an excellent buying opportunity. A Chinese government official corrected the statement, saying that ICOs would soon resume and be regulated.
As long as China takes a reasonable approach, which I expect it to, this is a very positive development. There are too many scammy ICOs coming to market these days. Reasonable regulation will bring more stability and trust to this nascent industry.
Overall it was a great week, and most coins have recovered to a point near their all-time highs. I expect the bull run to continue, as there is an incredible amount of money on the sidelines waiting to buy the dips.
If you haven’t already, be sure to check out my two research reports on cryptocurrencies:
- “How to Become the Next Bitcoin Millionaire”
- “How to Score a Massive Fortune on the Next Three Digital Currency Superstars.”
Some of our startup portfolio companies (both open and closed positions) are making news. Check out some recent headlines…
Court Innovations: Matterhorn allows courts throughout the United States to handle many types of high-volume infractions entirely online, saving time and money for citizens and courts. Read more here.
Geostellar: Is the outlook for solar, well, sunny? If startups like Geostellar continue to find investment dollars and deliver services, products and energy savings that many consumers are looking for, all while offsetting the impacts of global warming, it’s certainly conceivable. Read more here.
Founder, First Stage Investor