If I ever see someone flexing their wealth, be it bitcoin or anything else, my first thought is "what an asshole."
That's the thing. I believe most flaunt because that's the only thing they have and a lil spice of insecurity, not that they would admit.
I agree with you.
It seems that the person only has money and does not have any other positive moral and performance traits that are attractive to others.
And by using his money to show off, he seeks to attract attention and cover up the fact that he has no other abilities.
Of course, there are different situations,1 or he did not acquire this wealth through his own efforts, which clearly indicates his weak performance in life.
2 Or he has the ability to generate wealth but there are no other positive moral points in him and he wants to show off only by showing off his wealth.
Although often people who were able to acquire wealth due to their abilities and good performance do not have this bad morality of abusing wealth to attract attention.