Blockchain name grabbing has echoes of dotcom bubble

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Blockchain name-grabbing has echoes of dotcom bubble,
LONDON (Reuters) - If you want a quick boost to your company’s share price, adding “blockchain” to your name will work – at least for a while.

Despite a slump in cryptocurrencies that has wiped more than 50 percent off the value of bitcoin since December, the majority of companies that have jumped on the blockchain bandwagon - often from entirely unrelated industries with little or no connected revenue - are still sitting on sizeable gains.

The average share price of such companies has risen more than threefold since such name changes, according to Reuters data, with experts comparing the practice to a similar rush during the dotcom bubble.



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Blockchain name-grabbing has echoes of dotcom bubble