It is very real.
Lot's of people are very bullish gold and silver but, only trade the paper markets. They have no desire to hold physical metals.
Lot's of people are very bullish BTC but, only interested in trading the BTC/USDT pair. They don't actually believe BTC will ever be a form of payment or money.
BTC, paper gold, and paper silver are merely instruments used to increase the amount of fiat in their investment accounts. And, so long as paper derivatives are available to be traded, real price discovery of assets remain a myth. Many people are perfectly fine operating in this blue-pill Matrix.
Last, fiat needs to die but, it never will. Digital fiat (CBDC) and digital ledgers (Block-chain) are the future. The central banks will never allow BTC to be anything more than a speculative asset. The world central banks will never relinquish control of currencies; not without providing a great deal of misery to mankind first.
