The financial press is filled with stories about a bitcoin bubble. But whatever the eventual future for blockchain and cryptocurrencies, the mania may reflect something broader: a return to the "greed" part of the "fear and greed" cycle for the first time since the financial crisis sent investors into their bunkers.
I write from personal experience. This past week I attended a charity event featuring a cryptocurrencies discussion with Fortress Investment Group founder Mike Novogratz and Joseph Lubin, founder of a blockchain company called ConsenSys.
Tom Lauricella does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.