We are in the age of memetic investing. Some people put a lot of money into stocks or coins, not because they think the potential value of the asset is significantly different, but because it is popular on the Internet, and they think it is fun, cool, or just doing something.
Some things are obviously legal, some things are obviously nonsense, and there are some confusing long-tail things,"
said Sam Bankman-Fried, head of Alameda Research and the FTX cryptocurrency derivatives exchange.
But cryptocurrency has actually worked this way since the beginning. The memetic aspect of it has always been part of the attraction.