I think it depends at least in part on one’s view of the long run value of crypto assets. I’m skeptical that they are worth what they are currently valued at, in aggregate (and am more skeptical that they were worth the prices they were trading at a year ago). So I think it would have been unethical for me personally to be paying for Super Bowl ads encouraging people to get into crypto. But if Tom Brady or whoever genuinely believed that it was in people’s best interest to buy some crypto, I’m not really inclined to judge them for encouraging investment.
But I think there’s a difference between investment and trading. It’s harder to justify encouraging people to day trade, given that day traders lose money in aggregate (mostly via exchange fees). I’d be curious if someone could make a case for encouraging short-term trading.
I think it depends at least in part on one’s view of the long run value of crypto assets. I’m skeptical that they are worth what they are currently valued at, in aggregate (and am more skeptical that they were worth the prices they were trading at a year ago). So I think it would have been unethical for me personally to be paying for Super Bowl ads encouraging people to get into crypto. But if Tom Brady or whoever genuinely believed that it was in people’s best interest to buy some crypto, I’m not really inclined to judge them for encouraging investment.
But I think there’s a difference between investment and trading. It’s harder to justify encouraging people to day trade, given that day traders lose money in aggregate (mostly via exchange fees). I’d be curious if someone could make a case for encouraging short-term trading.