why can't crypto be a good investment?

many people think that crypto cannot be a good investment because it's not real, there are no protocol revenues, etc. it feels "unserious" buying BTC or SOL or a protocol token over a "real company" like GOOG or AAPL or TSLA.

there are lots of reasons why you'd want to buy something: if you feel happy owning it, to signal your allegiance to a particular cause, etc. but something is a good investment iff that thing appreciates in value. call this "investment positivism".

under this lens, something doesn't have to have revenues to be a good investment. gold doesn't pay dividends, but it can be a good investment. and if gold can be a good investment. surely Bitcoin can be also a good investment. both of these are pure memes. see money as symbol.

but people make "unserious investments" all the time. they buy Rolex watches, fine wines, Hermes bags, red arowana fishes, and many other weird things. these are "assets" that appreciate in value purely due to the power of their meme.

i think crypto can be an even better investment than these assets. crypto can make the world better. and if some people are here for the money, so what? the dot com boom happened in 1999 and look where the internet is now.