Now there's a good question. I suppose it has a value according to what buyers and sellers believe it has. I remember when $0.19 dollar could buy a loaf of bread so a dollar was worth about 5 loaves of bread. I was just in a store about an hour ago and saw a loaf of bread set at 4 bucks (I was shocked and called the missus over to see!) so now a dollar will buy about 1/4 loaf of bread - at least THAT bread. So it seems a dollar is still worth something even if it ain't much. I expect it's going to get a lot worse.

Too late

The people made rich were Democrat politicians by people who thought that they were protecting their individual wealth. It was a particularly devious form of looting. I thought seriously about investing in crypto and am glad I didn't.

The value was supposed to be protecting one's wealth via a currency that was not subject to the "arbitrary whims of hidden,
ugly little bureaucrats" (from Galt's speech in Atlas Shrugged)

"So long as men, in the era of savagery,
had no concept of objective reality and
believed that physical nature was ruled
by the whim of unknowable demons –
no thought, no science, no production
were possible. Only when men
discovered that nature was a firm,
predictable absolute were they able to
rely on their knowledge, to choose their
course, to plan their future and, slowly,
to rise from the cave. Now you have
placed modern industry, with its
immense complexity of scientific
precision, back into the power of
unknowable demons – the unpredictable
power of the arbitrary whims of hidden,
ugly little bureaucrats. A farmer will not
invest the effort of one summer if he's
unable to calculate his chances of a
harvest. But you expect industrial giants
– who plan in terms of decades, invest in
terms of generations and undertake
ninety-nine-year contracts – to continue
to function and produce, not knowing
what random caprice in the skull of what
random official will descend upon them
at what moment to demolish the whole
of their effort. Drifters and physical
laborers live and plan by the range of a
day. The better the mind, the longer the
range. A man whose vision extends to a
shanty, might continue to build on your
quicksands, to grab a fast profit and run.
A man who envisions skyscrapers, will
not. Nor will he give ten years of
unswerving devotion to the task of
inventing a new product, when he knows
that gangs of entrenched mediocrity are
juggling the laws against him, to tie
him,, restrict him and force him to fail,
but should he fight them and struggle
and succeed, they will seize his rewards
and his invention..."

The whole point of FTX was to make crypto investing the opposite of a "firm, predictable absolute".

"From the start of the Russian actions in Ukraine, I stated it was the deep states money laundering hub." Yes, you did, and more and more information is coming to the surface to back that up. DNN rules!