Bitcoin, Ethereum, Ripple, and other forms of cryptocurrency have increased in value almost astronomically during 2017. Cryptocurrency, in case you haven’t heard, is a form of secondary currency regulated through games, websites, and online auction houses; it is sold in blocks, with Bitcoin, the top contender selling at about $2.2K per block currently. In total the various lines of cryptocurrency are worth about $79 billion, with Bitcoin more than quadrupling in value since the end of 2016.
One of the primary reasons crypto coin is on the rise relates to the Japanese markets, who have, unlike the US, authorized them to be treated the same as any other form of currency. It could also be that this is the boom before an overpriced situation forms a bust.
Initial Coin Offerings
Ethereum, another of the top contending cryptocurrencies, is offering ICO (initial coin offerings) and the only way to buy into them is with their crypto coins. Think of it as a kind of IPO, getting in at the beginning of a new type of crypto coin. Many of the current companies offering these types of currencies are already valued in eight figures. For investors, it’s a case of buyer beware since this market is highly volatile and expert opinion of the value of a block even now varies from $0-$40K. In the US and most other countries, these ICOs are not regulated, adding more risk, but offering even greater rewards if you get the right one at the right time.
As an example, KIK just announced they are raising $125 million through an ICO with $50 million already offered to them from institutional investors. Leaving $75 million to be raised from the general public – well at least the qualified investors in the group — for their ‘Kin’ tokens. Want in? Go to kin.kik.com to register before September 9. If you decide to ride the coin of the future, you aren’t alone, Floyd Mayweather and other celebrities have endorsed the industry, and Foturne.com now has a dedicated section called Ledger all about it.
Investors Look to Digital Currency
The Economist recently spoke about ICO’s when they said: “ICO ‘coins’ are essentially digital coupons, tokens issues on an indelible distributed ledger, or blockchain, of the kind that underpins Bitcoin, a cryptocurrency. That means they can easily be traded although unlike shares they do not confer ownership rights. Investors hope that successful projects will cause tokens’ value to rise.
On the other hand, if you want to have an ICO of your own, knowing who to work with gets you several steps ahead of the game. Top PR firms who have expertise and specialization in the area include 5WPR, one of the top independently owned PR firms in the US, as well as Leverage PR (a fintech PR firm located in Austin, Texas). 5WPR appears to have a more diverse practice, including media relations, marketing and the ability to reach celebrities.