Bitcoin and Blockchain is all the rage in more than just private investors' circles, and companies are trying to cash in on the craze. While some are launching their own ICOs, such as Kodak, others have merely tacked 'Blockchain' onto their name and seen success.

In a move that seems dangerously like to what happened in the 90s with the dot-com smash, the 'Blockchain revolution'  taken on by some companies requires conscientious scrutiny as much of it is smoke and mirrors.

Speaking of fume, the cannabis revolution that followed its legalization in a few states also came with a like alarm from the SEC most concern cashing in on that hype.

Bitcoin services

Amidst the host of companies trying to wrangle their fashion into the hyped market is the company formerly known equally Tulip BioMed - now Bitcoin Services. This alter in name and direction saw the company's stock increment by a massive 43,500 pct last year.

To their credit, the name modify came dorsum in 2022 and simply took off last year in November with the hype that came with the cryptocurrency market in the mainstream.

Bitcoin Services financial filings from effectually that fourth dimension offer few clues that the company was doing annihilation specific to justify the hysteria. The same can be said of its website, which generally lacks press releases and other investor information, apart from contact data.

Non lonely

Bitcoin Services probably takes the top spot in terms of growth thanks to its name change, but there is a host of others that have made anywhere between 309 and twenty,445 per centum gains thanks to the alter, as shown beneath.

Former Name Current Name Location Trading Range 2022
Tulip Bio Med Bitcoin Servies USA 42,500%
JA Energy UBI Blockchain Internet China 20,445%
Natural Resource Holdings Blockchain Mining Israel 12,021%
Leeta Gold HIVE Blockchian Technologies Canada vi,384%
Grand Pacaraima Gold First Bitcoin Capital Canada 5,897%
Carrus Capital Global Blockchain Technologies Canada 2,900%
AgriVest Americas NXChain United states 1,700%
Bioptix Riot Blockchain United states of america ane,611%
AE Innovative Majuscule Bitcoin Grouping Germany 1,503%
On-Line Online Blockchain UK 1,300%
Long Blockchain Long Island Ice Tea Corp The states 458%
Transeastern Power Trust Plockchain Power Trust Unit of measurement Canada 309%

Quick buck

Another worrying trend that is reminiscent of the dot-com boom is that these gains do not last long as people quickly catch on or regulators step in.

Hong Kong-based UBI Blockchain Internet—previously known every bit JA Free energy—soared more than xx,000 percent before regulators halted ownership and selling.

Chimera signs?

Those who believe the entire cryptocurrency marketplace is one big bubble often signal to the similarities in hype between the dot-com bubble and these happen around companies taking advantage of the mania and speculation.

It remains to be seen if the cryptocurrency market tin weather this mania amend than other similar bubbles.