Bitcoin, the original cryptocurrency, was launched in 2009. Today, there are thousands of cryptocurrencies with a total value of about $2 trillion. Earlier this year, the surge in their prices minted tens of thousands of cryptocurrency millionaires—at least on paper. Cryptocurrencies might turn out to be a massive speculative bubble that ends up hurting many naive investors. Indeed, many cryptocurrency fortunes have already evaporated with the recent plunge in prices. But whatever their ultimate fate, the ingenious technological innovations underpinning them will transform the nature of money and finance.
MYTH NO. 1
A cryptocurrency is a real money that can be used for payments.
MYTH NO. 2
Cryptocurrencies are a good investment.
MYTH NO. 3
Bitcoin is fading. Meme coins are the future.
MYTH NO. 4
Cryptocurrencies will displace the dollar.
MYTH NO. 5
Cryptocurrencies are just a fad and will fade away.
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