“Morgan Stanley says the true price of bitcoin might be zero” – Business Insider | $13,709.41

Last updated on December 30th, 2017 at 03:58 pm

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

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