You were right. It’s not a passing fad.
For all of the legal trouble that entrepreneurs like Sam Bankman-Fried are in and the regulatory mess that companies like Binance find themselves in, people keep buying cryptocurrency.
Even as the price of Bitcoin fell precipitously in 2022, the percentage of people in the United States owning crypto grew to 11 percent from 3 percent in just a year. It’s at 12 percent this year, according to a National Bureau of Economic Research working paper, and Bitcoin’s price has risen more than 75 percent from its 2022 low.
Crypto conviction — or just curiosity — is not something that merits condescension from the olds and scolds of personal finance. It just requires you to ask a few questions about who you are and why you find crypto alluring.
