Cryptocurrency as nothing more than a means of escape

Many people choose to invest in cryptocurrency in order to achieve financial independence. Taking on the risk of homeownership has some parallels in that regard.

What distinguishes die-hard crypto investors is that many see it as an escape from a system that is heavily stacked against them. As a result, they are willing to take part in the crypto experiment.

Sure, prices can go down as well as up in dollar terms at any given time. And it's possible that some hit-and-run investors aren't "in it for tech" and haven't done their homework.

However, rather than assuming that the majority are inexperienced investors in need of government protection, Krugman should consider the factors driving people's desire to flee.

If he did, he would realise that crypto provides hope, which is all that is required to take a risk on.

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Google Pay has hired a PayPal executive to lead its crypto payments push.

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