A perfect example of this irrational exuberance is Riot Blockchain Inc. (RIOT) – previously known as BiOptix Diagnostics Inc.
This is a biopharmaceutical company that has had nothing to do with blockchain technology or Bitcoin.
Leading up to the name change, they saw their stock price gain almost 100% in just a few days. After the name change, the stock price soared another 17%. Many people hear about their friends and family making a lot of money of Bitcoin and want to join the craze in any way they can.
Sounds a lot like what occurred during the Dot-Com days, doesn’t it?
