A Response to Bloomberg’s Crypto Editorial

I mean, first of all, politicians aren’t investment advisors and their words shouldn’t be treated as investment advice. But what does this “real economy” mean? Is a government bond part of the real economy, if that money is going to pay off debt from government spending during, say, COVID? Is that real? Is investing in Coca-Cola or Raytheon, investing in the real economy? Or are we really just investing in sugary drinks and missiles that do a lot more harm to kids than Ethereum does? Did mortgage-backed securities, pumped by a cocktail of explicit and implicit government guarantees and regulatory subsidies, “support the real economy” in the early 2000s? Isn’t a real “real economy” one that supports individuals and families to live the lives they want, and doesn’t crypto do that quite ably?

Source link

See also  How USDT, USDC, stETH, LINK, and UNI Shape the Crypto Market