Isn’t the money being invested in crypto instead? Rich people might prefer others better ways to protect their assets than the current art market

I think it’s a decade too late for that to be the dominating factor.

from the article "Now that the bubble has burst, the speculators are out of the picture, off flipping meme coins, where no one makes them feel inadequate or insists that they buy three things they don’t want to get the one thing they do."