Bitcoin is a very interesting piece of technology that has become a bubble due to a combination of historically low interest rates (and QE, and other forms of actual money printing) combined with a scarcity of good investments.

Without the forces transforming it into a bubble, Bitcoin and other cryptocurrencies would be interesting technologies used by enthusiasts, as an international wire transfer method, and for some black and grey market commerce. They wouldn't be anywhere near as insane as they are.

These same forces are causing the stock market and real estate to go apeshit in the middle of a pandemic-driven massive recession, which is in some ways even more insane than Bitcoin.

We are in a chronically demand-constrained economy. Until we actually recapitalize the consumer, nothing will change. We'll continue to print money forever in an attempt to revitalize the economy, and all it will do is inflate more bubbles and probably even nuttier ones.