Chasing the Next Bitcoin, Investors Shell Out $700 Million for Coins With ‘No Purpose’ – WSJ

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One of the hottest cryptocurrency investments of 2017 comes from a software startup that doesn’t plan to sell any software and describes what it is selling—something called a digital token—as having “no purpose.” The company, block.one, has raised about $700 million and counting. That is larger than all but 10 of the 195 U.S. initial public offerings this year.

Source: Chasing the Next Bitcoin, Investors Shell Out $700 Million for Coins With ‘No Purpose’ – WSJ

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