- During the cryptocurrency mania in 2017, many firms pivoted their entire strategy to blockchain and cryptocurrencies
- Because of the overall retail hype surrounding cryptocurrencies at the time, these pivoted firms saw eye-watering returns as high as 14,000%
- After the cryptocurrency crash in 2018, some of these firms and their investors saw share prices plummet close to 100%
Amid the cryptocurrency mania of 2017, we saw an abundance of firms unconnected to the cryptocurrency and blockchain industry begin to rebrand and pivot their businesses to take advantage of market euphoria. Many firms that pivoted also made flashy announcements and name changes to clearly denote that they are, indeed, blockchain-focused businesses.