Cannabis Investors Turn to Psychedelics
Investor interest in psychedelics is growing rapidly amid promising research and decriminalization efforts in states and cities across the U.S.
“People see this potentially as a get-rich-quick mechanism, just like you saw in the early stages of cannabis,” Sa’ad Shah of the Noetic Psychedelic Fund, told Bloomberg. “They feel they don’t want to have another FOMO [fear of missing out] situation here.”
The industry is attracting big names like Peter Thiel and David Bronner, who were early investors in the cannabis space. Cannabis is already well off the ground in North America. Psychedelics, on the other hand, are a cutting edge industry that are being likened to biotech.
When it comes to psilocybin or Ibogaine, “hopes for medical breakthroughs are high,” Bloomberg notes. “Whereas cannabis aims to treat things like depression, addiction, anxiety and PTSD, psychedelics investors say many substances show the promise of actually curing them by resetting the brain…”
Legally, psychedelics have a long way to go. But if some of the claims about their benefits materialize, investors would be looking at a windfall. Keep your eye — and maybe a piece of your portfolio — on this space.