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It’s actually neither. It’s closer to a virtual object, like items that people can find/earn within a video game. A Crypto’s value is based on a mix between the perceived value of the function the Crypto is designed to perform, the supply of the virtual coin, the demand for it and lastly Greed/Fear.
Just look at the number of types of Crypto coins and how seemingly easy they are becoming to setup. Even a Meme and a joke now has a stupid valuation.
I have no doubt Blockchain has its place and is a game changer, but it’s going to be governments and virtual currencies established by central banks that become the main stream. Companies that develop useful distributed ledgers are the ones to invest in, rather than the coins.
In saying all this, sure people can make stupid amounts of money from Crypto but that’s nothing to do with its actual real world value. Congrats to those who have made money from Crypto, but as sure as day follows night the bubble will come to an end once central banks and governments move from cash to virtual currencies.
