The Crypto Collapse and the End of the Magical Thinking That Infected Capitalism Dogecoin. WeWork. The Metaverse. It was an era of illusory and ridiculous promises. At a guest lecture at a military academy when the price of a single Bitcoin neared $60,000, I was asked, as finance professors often are, what I thought about cryptocurrencies. Rather than respond with my usual skepticism, I polled the students. More than half of attendees had traded cryptocurrencies, often financed by loans. Dogecoin. WeWork. The Metaverse. It was an era of illusory and ridiculous promises.

The Crypto Collapse and the End of the Magical Thinking That Infected Capitalism Dogecoin. WeWork. The Metaverse. It was an era of illusory and ridiculous promises. At a guest lecture at a military academy when the price of a single Bitcoin neared $60,000, I was asked, as finance professors often are, what I thought about cryptocurrencies. Rather than respond with my usual skepticism, I polled the students. More than half of attendees had traded cryptocurrencies, often financed by loans. Dogecoin. WeWork. The Metaverse. It was an era of illusory and ridiculous promises.

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