Commentary: Burned by crypto? Don’t learn the wrong lesson
NEW YORK: I must admit I’ve been rooting for the crypto market to crash and burn. Not because I never invested in it and was resentful to see so many people get rich from it (though there were moments).
But because I don't understand it, what value it serves or what problem it solves.So I spent the last 12 years assuming — and hoping — that crypto would go away.
And now it might. Or at least, it might become a smaller part of the financial market.But now I'm worried. After a decade of drawing in investors, minting new millionaires and billionaires, and inspiring passion for investing among a new tech-savvy generation, I fear the consequences of it crashing and burning.
Investors are in danger of learning the wrong lessons about risk.I'd feel a little guilty for rooting against crypto if its fall was the thing that tips the economy into a bad recession.
