Morgan Stanley: Bitcoin's true value could be 'zero' - FOGWHY

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Sunday, February 2, 2020

Morgan Stanley: Bitcoin's true value could be 'zero'




Although the price of Bitcoin reached nearly $ 20 thousand during this year, before it returned again to decline, economists indicate that it has failed most of the tests to prove its usefulness as a currency, as the value fluctuates greatly, and it is not universally accepted, And people don't mainly use it to buy products.

 

Analysts say that digital currencies do not have any intrinsic value, nor are they guaranteed to be used for payment.

 

The famous analyst, James Fawcett from Morgan Stanley and his team sent a research note to clients a few days ago indicating that the real value of Bitcoin may be zero, and he identified some of the reasons that make it very difficult to have a value for these digital currencies, as they are not the same as common currencies. On them, and not like gold.

 

He added that the value of Bitcoin differs from real currencies, which, if their value rapidly depreciates, can intervene to stop this decline, while it is not possible to intervene in any way to protect this new currency.

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