For all you crypto currency, Bitcoin, alt coin fanatics, I’m expanding my Financial Acronym of the Week series to include crypto-related financial acronyms! As you may know, Pete the Cooler enjoys using financial acronyms to shorten complicated financial terms, just like the big boys of the financial world do so each week I introduce new terms. It sounds so slick, suave, and sophisticated to rattle off a bunch of terms to show your superior financial intellect. For all the cryptocurrency diehards and Bitcoin bloggers, I will teach you the meaning of ICO.
Normally I recommend maintaining a forced power pose while using these terms to ensure that others submit to your prowess or mistakenly assume you are a maniacal overlord scheming for world domination, before they return to Facebook and Twitter to their own future detriment.
I’m going to waive that rule for the crypto financial acronym series, since mostly you will use this term from behind a computer so nobody will see you unless you are a super geek chatting with a webcam or you are the last one to realize you can be spied on through your own webcam and you haven’t put tape over the lens.
Financial Acronyms – ICO
So the truest meaning of the term ICO is: Insiders Cash Out (ICO). This reveals the underlying truth that those in the know are most likely to take your “investment” and cash out early. If the offering performs, they win. If the offering does not perform, they still win.
Using it in a sentence looks like this: The U.S. Securities and Exchange Commission (SEC), which holds primary responsibility for enforcing federal securities laws and regulating the nation’s stock exchanges, obtained a court order halting an ICO (Insiders Cash Out) that was allegedly targeting retail investors to fund what was claimed to be the world’s first “decentralized bank.”
Those sneaker-shoe guys in the basement chewing on Xanax will start using this one for sure.
And, there are a lot more jewels where that came from. I’ll keep rolling out financial acronyms weekly (or so) as we go down this PtC rabbit hole together.