The Washington PostThe Washington Post

Why crypto will rise again

By Sebastian Mallaby

05 Jul 2022 · 3 min read

Editor's Note

This WaPo columnist argues why the crypto winter will not lead to the death of the industry, backing it up with success stories from times past.

The mayhem in the cryptocurrency market has excited the obituary writers. Stocks are down, bonds are down, but bitcoin, ethereum and other digital tokens have plummeted. Taken together, crypto assets have lost more than two-thirds of their value since November. Some $2 trillion in notional wealth has evaporated.

But obituarists should note: The bust tells us precisely nothing about crypto's future. History is littered with technologies that crashed but still proved transformative.

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