Its backed by the govt and the us economy and is the most widely accepted (deman

Its backed by the govt and the us economy and is the most widely accepted (demanded) commodity money substitute in the world. Don’t confuse commodity money with money substitutes that are insured, with money substitutes that are not, with the spectrum of fiduciary instruments.

Crypto is a fungible share of the network that hosts it that is usable as token money on that network. It’s nothing without power and telco. Fiat is nothing without a government and demand. Commodity money is always money – it’s the only money. everything else is a substitute.

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