Chapter Bitmain market ICO — bubble


The head of the company Bitmain Jihan Wu believes that the ICO as a method of raising funds is not productive, and the current ICO market is a bubble that will soon burst.

“I think ico is a kind of unsustainable financial bubble. in the end, it will burst. it’s a matter of time. I think that just a year or two. in any case, he’ll just disappear.”

He added that the tokens produced in the course of the ICO, do not give investors any rights, what strongly lose traditional financial assets (stocks, bonds, futures and options, etc.). At the same time, Wu believes that in the future these traditional assets will licenzirovanie and transferred on the blockchain.

Recall that the company Bitmain, which is the largest manufacturer of equipment for mining, intends to hold an IPO on the Hong Kong stock exchange. According to various sources, they intend to bring from $3 to $18 billion.

It also became known that Bitmain has opened a losing position at BCH $500 million and in addition to this, the price of asik Antminer S9 fell by 85%. According to preliminary estimates for the second quarter, the company could take a loss of $600-700 million.

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