Bitcoin has dropped about the same amount as Netflix, Meta and Tesla (~70-74%)
It has significantly outperformed VC darlings like Peloton (-93%) and WeWork (-90%).
You can't tell me that WeWork stock wasn't working on the greater fool theory any more than Bitcoin's price works on finding more bagholders. It's all a grift, some worse than others.
Peloton in particular was a beneficiary of the pandemic and lockdowns. With no ill will, I'm content to see their stock price drop if it is correlated with an improvement in the general state of the world.
It's absolutely not informative to compare their returns to various crypto.
It has significantly outperformed VC darlings like Peloton (-93%) and WeWork (-90%).
You can't tell me that WeWork stock wasn't working on the greater fool theory any more than Bitcoin's price works on finding more bagholders. It's all a grift, some worse than others.