It really isn’t more complicated. People were told beanie babies were investments that would make them money. They were fed stories about people who made a lot of money from beanie babies. They got fomo and bought in, then it inevitably dropped.
Crypto is only more complicated because it also has other groups, like anarchists/libertarians that see crypto as subversive to government, taxes, and regulation. They buy in out of a mistaken philosophical view that it furthers their political ends.
