That's like saying Bezos or Gates aren't really worth ~60B dollars, like the news are repeatedly saying though. Isn't that right? Considering most of their wealth is in stocks.
It is technically right. However, even in a 100% firesale, they could make - say - $10bn to $20bn, because the fundamentals of their companies' earnings and dividends would entice sufficiently many new investors to step into the market.
Cryptocoins have no such fundamental value backstop - someone desperately trying to sell a large fraction of the market cap would drive the price to basically zero in short order.
Cryptocoins have no such fundamental value backstop - someone desperately trying to sell a large fraction of the market cap would drive the price to basically zero in short order.