Bitcoin just took a nosedive from $120,000 to $88,000, and while crypto bros are sobbing into their diamond-hand hoodies, one economist is popping champagne for the rest of us. Dean Baker argues crypto is basically fancy counterfeit money that lets speculators hoover up houses and Super Bowl tickets, driving prices sky-high. Now that over a trillion dollars of funny money has vanished, there’s suddenly more real-world stuff left for normal people—like enough vanished wealth to mail every U.S. household a $10,000 check. Who knew a crash could feel like winning the lottery?
Bitcoin Crashing Is Actually Awesome News for Regular People, Economist Says
