Lamborghinis at Crypto Confab Give Way to Talks on Shorting
- Digital gathering in N.Y. is more sedate after Bitcoin crash
- Pantera’s Morehead says ‘fundamentals’ still very positive
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The guy in the llama costume identified himself as LamboLlama, also his Twitter handle, a reference to a time when Lamborghinis were a joking meme about the cryptocurrency industry, representing some of the material aspirations of investors and the speed with which it all seemed to be happening.
But the outfit and moniker were mostly an aberration at the Consensus: Invest Conference held Tuesday at a New York hotel. The price of Bitcoin has slumped 80 percent in less than a year, removing about $700 billion from cryptocurrency markets and much of the exuberance.