ICO Ratings on ICOformula - Movers and Shakers of Week 18
A slight downtrend over the weekend in cryptoland with Bitcoin retreating back down from the very edge of the psychological $10k barrier to $9320, Ethereum down to $708 after teetering around the $800 mark.
Berkshire Hathaway held their annual shareholder meeting chaired by Warren Buffett and business partner Charlie Munger over the weekend in what appears to have been little more than another excuse for the aging investment gurus to once again desperately think up new reasons to bash Bitcoin. Whilst both have been revered as astute investors by the traditional financial sectors over the years with Buffett often labelled as the “Oracle of Omaha” for his calls on investments, the 2 men with a combined age of 181 are now resorting to childish retorts whenever questions arise concerning cryptocurrencies.
Despite openly admitting they have no positions and no understanding of blockchain or crypto they appear to feel qualified to make the following statements to their own shareholders (which are presumably also astute one would hope). Buffett claimed Bitcoin is a “tool for charlatans” and “probably rat poison squared” whilst Munger, after likening crypto to a type of dementia went on to say “it’s just disgusting, It’s like someone else is trading turds and you decide I can’t be left out”.
Whilst the latest round of derisory comments only clarify Buffett and Co’s desperation at the growth of crypto, one has to wonder what Berkshire Hathaway shareholders think of the company’s collective stance on the subject? Personally, if I had heard comments like that from one of the most successful investors own annual meetings, (taking into account their own admission of not understanding crypto) I would seriously question their ability to continue their business with any competence and seriously consider liquidating any personal holdings.
The “Old Money” world might not like crypto and blockchain – but even JP Morgan are starting to embrace it and actively filing patent applications to use it despite JPM Exec Jamie Dimon claiming “Bitcoin is a fraud” just a month prior. Whilst Buffett and Munger have little room to “grow up” given their ages, it would certainly appear it’s high time they retired from what is patently too complicated for them and refrain from sounding like 5 year olds with a conspiracy theory.
Last week in the world of ICO Ratings on ICOformula:
The first chart shows us how the top 10 ICO’s by average position have changed over the course of the previous week:
The second chart shows the top 10 ICO’s by largest average position gain over the past week:
The third chart shows the top 10 ICO's by largest average position drop over the past week:
Caveat: Only ICO’s that have had the status of ICO are used in the data set for the full 7 day range are included in the following charts. ICO’s that either entered the dataset mid-way through the week, OR completed the ICO process and completed their sale/trading as tokens are not included in these charts.
Learn more about ICOformula ratings and how the Formulatron calculates them in our in-depth guide to how ICOformula rates ICOs.
Created: Monday, May 7, 2018
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