I think you're right to be wary of it. The network effect is where crypto gets its power (compared to say baseball cards) and that's why the Gov only approved because of a horrendous legal mistake and did so through clenched teeth.  Just imagine if it goes to 100K (about a 4 trillion crypto market). That money would otherwise be sitting in productive assets whether in money market funds (Gov debt which we all know is being issued like crazy and needs constant buyers), corporate bonds which benefit private companies, equities which benefit private companies...and now crypto. If crypto becomes a viable asset class (seems like a lock after today) and takes away from the others which historically at least benefited the Gov and banks when parked in "cash", eventually it will grow into a real problem. It could actually become deflationary if it approaches the Tom Lee market cap prediction levels (parked "cash" in money market funds puts downward pressure on short term rates. Park it somewhere else and rates rise, all else remaining equal).