[Consultant32452]

Because the powerful people with more crypto than you can't magically issue infinite more crypto and give it to themselves, devaluing the crypto in your wallet.

Classification as an asset is part of the state fighting against crypto currency. It's a non sequitor. If the dollar was deflationary more people would be holding onto it as an asset. But the dollar is intentionally manipulated/inflated so that it's a liability to hold it, therefore people trade it for other asset classes.