“Morgan Stanley says the true price of bitcoin might be zero” – Business Insider | $13,709.41
Morgan Stanley analyst James Faucette and his team sent a research note to clients a few days ago suggesting that the real value of bitcoin might be … $0.• Can Bitcoin be valued like a currency? No. There is no interest rate associated with Bitcoin.
• Like digital gold? Maybe. Does not have any intrinsic use like gold has in electronics or jewelry. But investors appear to be ascribing some value to it.
• Is it a payment network? Yes but it is tough to scale and does not charge a transaction fee.
• Bitcoin average daily trading volume of $3bn (last 30 days) vs $5.4 trillion in the FX market.
• Est. <$300mn in daily purchase volume vs. $17bn for Visa.
“Virtually no acceptance, and shrinking”
“If nobody accepts the technology for payment then the value would be 0.”
Eulogy made by James Faucette
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
Free Bitcoin Crash Course
Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.
We hate spam as much as you do. You can unsubscribe with one click.
