I'm not singling out bitcoin. In fact the London real estate is a good analogy to crypto. You have people with London properties getting super excited and peop

I'm not singling out bitcoin. In fact the London real estate is a good analogy to crypto. You have people with London properties getting super excited and people with no such properties not getting excited at all. Both are right. A handful of previously poor people manage to get a property thanks to being in the right place at the right time or some other improbable condition, but most don't. Many participants in the market are already massively wealthy. Overall, nothing makes it plausible for the property market to be meaningfully called an engine for the redistribution of wealth