Blog: Are Crypto Currencies Beanie Babies?

While I was a parent in the 90s, many of the people who work in markets these days were kids. Most of you will remember Beanie Babies, the little toys that became the modern equivalent of tulip bulbs in the early 1600s. In both cases they were items of limited utility that became the objects of rampant speculation and prices became stratospheric as people bought them on the premise that others would keep buying them. Beanie Babies were cute but other than that had little to offer. Yet they became an obsession, for a short while. This is quite different than the tech bubble which became inflated slightly later. Tech stocks were based on the premise that technology would change the world.