Only if they cash out. You need new investors to be able to cash out. The wise ones smell the crash and are the first ones out. Some make it out just before the crash when the party is still going but the fires are rising. The rest burns. There is no real value in bitcoin (unlike the stock exchange or fiat money where valuable people are trapped in contracts).
There have been plenty of crashes until now, and those who "smelled it" and sold (I did) lost lots of paper profits.
There will be other crashes for sure, and it will be impossible to know if it's the BTC Apocalypse™ or the BTC Yearly Crash™ until late in the process.
Unless, of course, one belongs to the BTC-illuminati.
Either way, it's free money to me, so I try not to be too greedy...
If you're a CTO of a major company and you don't have a wallet with at least $1m in BTC in some wallet somewhere then you're risking a major disaster if someone breaks in and locks up your data.
But just because there are real uses doesn't mean that I think that the government will allow it to remain legal.
Facebook and Snap did well because they were "cooler" than their predecessors, and they had different/more uses. I think that's analogous to where I see the future of crypto
I agree that each asset class comes with risk, and that euro and dollar is currently less risky than crypto. But remember that each has its own risk. Fiat money goes down at about 2% each year, if you're in a proper economy. Did you see the quantitative easing that was done on the dollar? Scary.
Do you think people in Zimbabwe are "cashing out" to their local currency? https://www.bloomberg.com/news/articles/2017-11-15/bitcoin-s...
Some people are even "cashing out" to expensive real estate I read, not dollars.
Don't make the mistake to think euro's or dollars are the unit of value, they are not. Their price goes up and down just like everything else. History was not kind to fiat money (see French revolution for example).
Bitcoin is in a position to compete with central banks and commercial banks with fraction reserves. The chance of crypto really getting that far might be low, but it is still there, don't forget about that.
Nobody can be certain of the "bitcoin bubble", and nobody can be certain of the "worldwide bitcoin takeover of fiat money". Maybe it will end somewhere in between. It's all chances. You have to play on the risk factors of each, not on "I believe ...".
You don't cash out, you properly organize your assets.