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.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.