Here is a little education for the crypto faithfuls:
Stocks are claims on future streams of corporate dividend and that’s why stock prices go up or down according to corporate profitability.
Yes, if the underlying company is a scam that never produces any profit, its stock prices go to zero. And many of them have indeed become zero.
Those who buy stocks always treat them as a means to the end—getting more dollars or euros or whatever legal tenders. Only fools believe that stocks will become a currency in one day.
Get the differences?
Finally, some invoke hyperinflation or Zimbabwe as a justification for cryptos.
Come on: you are better off owning a cow than holding cryptos in hyperinflation—cows give milk or become beef. What’s the use of cryptos?
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