I don't get this. The dot-com bubble ran up to $6.7tn in market cap, in 2000, before crashing down to $1.7tn.
The crypto space, which seems to be shaping into an entirely new asset class, has a $300bn valuation. That's less than the value of Facebook.
The only reason why people are shouting bubble is because people were able to get in from the start, when these coins were 10 cents on the dollar. But when Facebook IPOed after 10ish years, it had a valuation of $50bn. But early angel investors also got in at 10 cents on the dollar.
It could eventually become a bubble, but I don't think think we're even nearly there yet.
The crypto space, which seems to be shaping into an entirely new asset class, has a $300bn valuation. That's less than the value of Facebook.
The only reason why people are shouting bubble is because people were able to get in from the start, when these coins were 10 cents on the dollar. But when Facebook IPOed after 10ish years, it had a valuation of $50bn. But early angel investors also got in at 10 cents on the dollar.
It could eventually become a bubble, but I don't think think we're even nearly there yet.