I’m sure the majority of the users on this platform believe (at least subconsciously) that they are the smartest person they know. Many of them likely know about bitcoin since it cost less than a hundred bucks. So here’s this thing that they themselves don’t see any value in, that still _somehow_ manages to have a market cap of billions. And this _despite_ the worse economic conditions in decades.

So it’s the classic case of reality not corresponding to what one has decided it _should_ be. And this invokes defensiveness and strong emotions.

Note that if bitcoin goes to zero, there would be a lot of hodlers experiencing the same.