Macro analyst Alex Krüger declared crypto a “failed asset class” on Tuesday but carved out four exceptions he still considers worth owning as Bitcoin (CRYPTO: BTC) slides toward $65,000.

Most Crypto Is Worthless But Four Categories Are Different

Krüger’s case against crypto covers the full picture.

Most assets have poor value accrual, founders dumped on retail without consequences, the meme coin cycle wiped out capital and trust, and DeFi hacks have accelerated sharply since last April.

His view is that “crypto” as most people know it has failed.

Despite that, Krüger draws a clear line between failed crypto and blockchain applications that are actually working. 

His four…

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