It’s like real estate in China and other less developed countries. It’s used as a store of wealth that is likely to appreciate. Doesn’t matter if the currency

It’s like real estate in China and other less developed countries. It’s used as a store of wealth that is likely to appreciate. Doesn’t matter if the currency goes bust, ownership is recognized by the government in all but the most extreme examples. We’re spoiled in the developed countries where you have thing like government bonds and equities (where public companies are vetted to some standard) and courts that can reliably protect ownership of an otherwise intangible asset.