There is skepticism about cryptos. However, while crypto is taking steps to enter the financial system, it is sure that the crash and collapse of crypto is not imminent. Crypto has a future as a speculative asset, and it diverts capital from more productive uses.
Crypto as a medium of exchange is volatile and hard to use. Instead of cryptos, one can use government-backed virtual currency. Even stablecoins can match the dollar. Those who defend cryptos contend that they are the ultimate hedge against the collapse of dollar.
As cryptos are speculative assets, with no intrinsic value, cryptos will collapse and price will go to zero. Another scenario is that cryptos are here to stay. It suits those investors who want lots of risk in their portfolio. Yet another scenario, despite everything, it goes well. The limited supply works in favour of cryptos. Investing in cryptos is not like investing in a company that makes things. Its primary value is in its limited supply.
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