Crypto’s unanswered question: At what price?

LAST summer, I was having lunch on the shores of Lake Maggiore in Italy with a few other investment professionals, one of whom I had known for several years.

A former chief investment officer for a family office, he had left that gig to start some cryptocurrency projects, including a fund and a venture or two in the non-fungible token (NFT) space.

“Man, I’m excited to ask you something I’ve not been able to get an answer to,” I told him. “I’ve followed Bitcoin since 2011, I read Satoshi Nakamoto’s original white paper, and I really think blockchain will be an important piece of the future, but I never did invest.”