When 600 cryptocurrency enthusiasts set sail from Singapore on Monday night for their second annual Blockchain Cruise, the price of bitcoin was hovering comfortably above $13,500.
By the time their 1,020-foot-long ship pulled into Thailand on Wednesday, for an afternoon of bottomless drinks and crypto-focused talks on a sun-soaked private beach, bitcoin had cratered to $10,000.
The group of mostly young men, many of whom became wildly rich — at least on paper — as bitcoin and other digital tokens skyrocketed last year, had in all likelihood just lost millions.
But if anyone was fazed, they didn’t
By the time their 1,020-foot-long ship pulled into Thailand on Wednesday, for an afternoon of bottomless drinks and crypto-focused talks on a sun-soaked private beach, bitcoin had cratered to $10,000.
The group of mostly young men, many of whom became wildly rich — at least on paper — as bitcoin and other digital tokens skyrocketed last year, had in all likelihood just lost millions.
But if anyone was fazed, they didn’t