Remember he calls crypto a currency, but uses it as an investment vehicle. He has "paid for vacation" with it, implying that he made a gain. It's not just a currency to him. He likes to go to the casino. He can't separate the two, and hence will defend it to the death.

If crypto was just a stable currency without the gains, he wouldn't bother putting in the effort. He'd just use dollars. That's optimal and efficient. Why put in effort if there's no return?

He's hooked on the "gains."