It's not ironic, the underlying asset in a fiat currency is the trust in the system and currency itself. While this might seem like nothing, it is in fact quite

It's not ironic, the underlying asset in a fiat currency is the trust in the system and currency itself. While this might seem like nothing, it is in fact quite tangible and valuable. Crypto, being very new relative to fiat currency, does not have the inbuilt trust and stability that fiat does, with decades or in some cases hundreds of years of history to back it up. This is intuitively verifiable with a simple thought experiment - if someone offered the average person $1,000,000 in cash or an equivalent value of ETH, which one would most people choose?