Bitcoin Rally and ‘Short Memories’ Reignite Everything in Crypto
- Crypto MNA activity is revving up, talk of IPOs is increasing
- Top token prices are approaching previous all-time highs
Branding for Bitcoin cryptocurrency on the window of a crypto exchange.
Photographer: Damian Lemanski/BloombergThis article is for subscribers only.
Bitcoin’s rally to near a record high is reawakening animal spirits — not just in the cryptocurrency market itself, but in the broader financial world that had left the digital asset sector for dead last year.
The change of heart can be seen in the improved outlook for deal flow, highlighted by Robinhood Markets Inc.’s purchase of crypto exchange Bitstamp Ltd. on Thursday, to a resurgence of venture-capital investments to what some analysts are expecting to be record amount of initial public offerings of companies connected to the industry.