I bet some pretty “risky” stuff. (The real risk is that I day trade, the “stuff” I bet on is not the risk), but even I won’t touch Luna.
The thing is Luna now has to sell its assets
so does every crypto company whose coin values dropped. (The other companies did not go to zero, they will sell a lot less.)
All that selling pressure will make the bear market worse.
A lot of their assets are other crypto currencies which could cause a spiral.
Only difference is the people at the top of the crypto etfs touted their etfs by hyping the possibility that they might one day become “like currency.” So they are etfs with untrustworthy leadership.
I do love me some random tulips/marigolds/sunflowers around the yards. I’d trade you a few pounds of meat for a dozen or two bulbs. Now that’s real money, there.
One of the world’s first investment bubbles was the Dutch Tulip bulb bubble in the mid 1600s. College professors like to use for instructional purposes because few people have a political opinion on it or any preconceived notions about it at all.