What is it about?
The paper studies the returns of cryptocurrencies offered in initial coin offerings (ICOs) over a three year period after the ICO.
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Why is it important?
Cryptocurrencies are an emerging way to raise growth capital for start-up firms and an increasingly prominent investment for different investor types. Understanding how cryptocurrencies perform is therefore of great importance.
Perspectives
This is the first study of the long-term performance of cryptocurrencies issued in initial coin offerings. The paper highlights many promising avenues for future research.
Paul Momtaz
UCLA
Read the Original
This page is a summary of: The Pricing and Performance of Cryptocurrency, European Journal of Finance, July 2019, Taylor & Francis,
DOI: 10.1080/1351847x.2019.1647259.
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