As soon as rumors started buzzing that soccer star Lionel Messi would transfer from Barcelona to Paris Saint-Germain in August, Miguel Schweizer decided to buy the French club’s fan token, $PSG, on a hunch that prices would spike. They did — but he didn’t hold the tokens for long.
He sold them a few days later, betting the rally would be short-lived. His trade proved correct: prices were down 34% a week later, and 73% from when the tokens were issued after four months.
"I would never keep them in my investment portfolio for the long term,” said Schweizer, 29, chief executive officer of Decrypto, a Buenos-Aires based exchange and wallet. "They’re trade opportunities.”