It looks like we have an asset bust for the record books in the making. The cryptocurrency crash now under way today surpassed the dot-com bust that occurred at the beginning of the millennium…
Whether or not cryptocurrncies recover–and I doubt they will–it is clear that their volatility make them unfit to serve as a general medium of exchange. However this lesson will likely be lost on the promoters of cryptocurrency.
Eulogy made by Joseph T. Salerno
