A blind investment in every initial coin offering (ICO) to date, including those that have failed, would have generated an average return of 1,320% for investors, according to a new report.
Venture capital firm Mangrove Capital Partners claims that: “If one had blindly invested €10,000 in every ICO, including the significant number of ICOs that failed, this would have delivered a +13.2x return.”
Michael Jackson, the former COO of Skype and a partner at Mangrove, authored the report and looked at data on 204 ICOs with “known outcomes” — ones where tokens are now being actively traded on exchanges or have failed since issue.
Jackson’s findings highlight why many institutional investors — from hedge funds to investment banks — are now waking up to the cryptocurrency space.
Source: Business Insider Australia