#GameStopBitcoinReserve answer this, let’s take a step back and open a few pages from history. There, you will see that some of the biggest bubbles of the 20th century resulted from innovation that captured people’s imaginations before its real-world utility was clear or sound regulation had been put in place.

Take the dot-com boom of the late ’90s. The internet was poised to change everything, but speculation outpaced many core business realities, such as revenue, sustainable growth and profitability, leading to a crash that wiped out over $5 trillion in market value. The 2008 financial crisis was caused by a lack of regulation that enabled over-leveraged mortgage-backed securities and opaque financial instruments to wreak havoc on the global economy. Likewise, unregulated token sales were behind the ICO boom of 2017. When reality finally caught up with hype, projects that had raised millions quickly disappeared overnight.

At the same time, history also shows that the dot.com bubble didn’t kill the internet, and the ICO breakdown wasn’t the end of blockchain. Instead, these seismic moments refined