When my kids were young, Beanie Babies were very popular. They were basically glorified bean bags, decorated this way or that. My son and I used to play catch with them, out on the parking lot. This horrified some people. Supposedly some of the Beanie Babies had value. I don’t know why, because they were mass-produced children’s toys. I was pretty sure they value crashed (so let’s just assume they did, despite ridiculous information posted on the internet). But even if the value went to zero, you still had a bean bag to play catch with.
Crypto, on the other hand, has no physical presence. It’s based on faith that somebody else will pay you for your crypto when you tire from it. It is fashionable, like a Beanie Baby. Yippie. The king of the crypto, Bitcoin, is worth about 30% of what it was during it’s glory days. Yeah, it’s still worth something like $17,000 apiece. That’s a lot more than the Princess Diana Beanie Baby was ever worth. Wait, according to the aforementioned ridiculous internet sources, on eBay, you can find a princess Beanie Baby listed for $665,000 right next to one with a $15.50 winning bid. There you go. The world is mad.
Anyway, if you have a Beanie Baby, at least you have a bean bag to play with once their value crashes. When you have crypto that’s crashed, at least you have learned a lesson.