If someone has $100 it is technically worth more than $100.
If someone buys a house for $500k it’s worth $500k. But it’s also a place to live, which makes it invaluable to a person without a home.
If the value declines to $400k then the net value is -$100k. But, again, the house has value as a place to live that humans need. Being underwater on your home isn’t the same as being homeless. And owning a million homes that lose value is very different than being broke.
Use value and exchange value are different things. And saying you have $8.4T on paper means something very different than saying you control properties, equities, and IP that other people need, but can’t have, because you’re hoping to flip it for a profit.
If someone buys a house for $500k it’s worth $500k. But it’s also a place to live, which makes it invaluable to a person without a home.
If the value declines to $400k then the net value is -$100k. But, again, the house has value as a place to live that humans need. Being underwater on your home isn’t the same as being homeless. And owning a million homes that lose value is very different than being broke.
Use value and exchange value are different things. And saying you have $8.4T on paper means something very different than saying you control properties, equities, and IP that other people need, but can’t have, because you’re hoping to flip it for a profit.