> BTC essential is worth $70k solely through the power of memes

Like everything else in finance...

Saying this is not to defend all sorts of crypto-bros. The economy, especially one overly focused on publicly traded companies like the Western, and especially the US economy, is a meme economy.

Coffee, flats, healthcare, military spending, etc., of comparable quality in the abstract East, cost multiples less than in the EU/USA because they and their currencies are weak on memes.