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10:32 19 July
10:27 19 July
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Bitcoin's true value is nothing, Morgan Stanley warns


The statement came as the world's largest cryptocurrency lost over 25 percent of its value this week, APA reports quoting sputniknews.

 

The real value of bitcoin could "be zero," Morgan Stanley stated amid the recent turmoil in the crypto markets.

 

The banking giant's researchers James Faucette and his team noted that if bitcoin is not accepted as a rival to the US dollar and other fiat currencies, than it is literally worth nothing.

 

To prove their statement, researchers referred to their chart of online retailers who recognized bitcoin, claiming that it has "virtually no acceptance, and [its usage is] shrinking."

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