Part 4/17:
A critical point raised is the fundamental misconception that cryptocurrencies are stocks. Unlike shares in a company, Bitcoin is not a company, nor is it an industry index. Instead, it’s a technological platform and a digital currency with its own ecosystem. This distinction matters because cryptocurrencies are more akin to technological infrastructure—a distributed system with its own rules and creative potential—rather than a straightforward financial instrument.
An intriguing observation is how, when these technologies become tradable tools, they resemble stocks, bonds, or indices, but they are fundamentally different. They embody a new asset class—a money and technology platform combined—with their own internal economics driven by diverse and often volatile markets.