It pales in comparison to the reported 10 trillion lost in stocks & bonds. I’m not boosting cryptocurrency in the least,because it’s just another form of fiat money.
“It pales in comparison to the reported 10 trillion lost in stocks & bonds.”
total “value” of all crypto was about $800 billion worldwide at the end of 2022 having lost 76% of their value in 2022 ...
total value of worldwide investment in stocks and bonds was $244 trillion USD ... if your loss of 10 trillion is correct, then loss in stocks and bonds was 4% (the loss was actually higher) ...
some percentage comparison losses & gains 2022:
crypto:
Terra: -100%
Solana: -93%
AMP: -93%
Cardano: -80%
Ether: -67%
Bitcoin: -63%
Dogecoin: -55%
stocks and USD:
US Dollar: ~ -10%
DOW: -8.5%
S&P: -19
NASDAQ: -33
OIL ETFs:
BNO: +60%
USO: +50%
Commodity ETFs:
BCI: +13%
PDBC +17%
DBC: +17%
What would you rather have had in YOUR wallet?
“I’m not boosting cryptocurrency in the least,because it’s just another form of fiat money.”
except that it’s not a good store of value, it’s not a unit of account and it’s not a medium of exchange for essential goods and services, the three hallmarks of a functional currency ... other than that, crypto is great!