Morgan Stanley on bitcoin: ‘the value would be 0’ | Business Insider

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.

That’s zero dollars. (Bitcoin stood at around $14,400 at the time of writing.)

The paper (titled “Bitcoin decrypted”) did not give a price target for bitcoin.

But in a section titled “Attempts to Value Bitcoin,” Faucette described why it is so hard to ascribe value to the cryptocurrency. It’s not like a currency, it’s not like gold, and it has had difficulty scaling.

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Morgan Stanley on bitcoin: ‘the value would be 0’ – Business Insider.

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