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claims/is-systemic-risk.md
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# Crypto assets may pose systemic risk to the larger economy
# Do crypto assets pose systemic risk to the larger economy?
**Crypto assets may pose systemic risk to the larger economy.**
Crypto assets do not currently pose a [systemic risk](../concepts/systemic-risk.md) to the United States economy, but may in the future if their growth is left unchecked. Allegedly the [paper wealth](paper-wealth.md) locked up into crypto tokens is allegedly only on the order of the $1 trillion which is inconsequential next to the amount of capital allocated in both the US equities and bond markets. Crypto is still a relatively tiny asset class and a sudden crash in the market, while devastating to individual retail investors, would likely not bring amount much damage to financial institutions or markets as a whole.
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## References
1. Nolan, Hamilton. n.d. ‘The Ticking Bomb of Crypto Fascism’. Accessed 21 March 2022. https://inthesetimes.com/article/the-ticking-bomb-of-crypto-fascism.
1. Hanley, Brian P. 2018. ‘The False Premises and Promises of Bitcoin’. ArXiv:1312.2048 [Cs, q-Fin], July. http://arxiv.org/abs/1312.2048.
1. Hanley, Brian P. 2018. ‘The False Premises and Promises of Bitcoin’. ArXiv:1312.2048 [Cs, q-Fin], July. http://arxiv.org/abs/1312.2048.