>It moves around specialty tokens that people speculate are worth that much money.
If a particular item can be sold at a particular amount with predictable and transparent liquidity it is objectively worth that amount.
Ford doesn't speculate a Ford F-150 is worth $30k, they have customers lined up with cash in hand ready to buy and waiting lists (liquidity), therefore they are objectively worth $30k.
You wouldn't say 1 share of Amazon stock is speculatively worth $3,205. It's objectively worth that, because there's liquidity and an order book right now that will buy it for that price.
In the world of finance, speculation, or speculative trading, refers to the act of conducting a financial transaction that has substantial risk of losing value but also holds the expectation of a significant gain or other major value.
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Crypto is the very definition of speculative trading.
And yes, stocks are as close to be to that as to be indistinguishable in my opinion
If a particular item can be sold at a particular amount with predictable and transparent liquidity it is objectively worth that amount.
Ford doesn't speculate a Ford F-150 is worth $30k, they have customers lined up with cash in hand ready to buy and waiting lists (liquidity), therefore they are objectively worth $30k.
You wouldn't say 1 share of Amazon stock is speculatively worth $3,205. It's objectively worth that, because there's liquidity and an order book right now that will buy it for that price.