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Lamborghini Bros no more: Crypto is creating a new wealth effect

How much that extra cash gives them confidence to spend more - a phenomenon economists call the wealth effect - is a hot topic whenever crypto prices are surging. A group of researchers tried to quantify it and determined that crypto bonanzas in the US aren t exactly spent like windfalls from winning the lottery. And so far, the effect has been relatively modest on the $28 trillion American economy. But if the asset class continues to boom, the study provides insight on potential game-changers in consumer patterns. ....

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Lamborghini Bros No More: Crypto Is Creating a New Wealth Effect

(Bloomberg) It’s an oft-told anecdote littering social media: Those who invested early in cryptocurrencies have enjoyed life-changing wealth. Most Read from BloombergFrance’s Macron Calls for Reset of Economic Ties With ChinaIsrael Shuts Gaza Crossing After Hamas Rocket Barrage From RafahEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventBerkshire Cash Hoard Scores Another Record as Earnings GainWorsening Weather Is Igniting a $25 Billion MarketHow much that extra cash gives them c ....

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