{"id":30005,"date":"2020-10-13T10:20:27","date_gmt":"2020-10-13T07:20:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30005"},"modified":"2025-08-27T20:05:37","modified_gmt":"2025-08-27T17:05:37","slug":"bank-of-england-sees-little-intrinsic-value-in-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-england-sees-little-intrinsic-value-in-bitcoin\/","title":{"rendered":"Bank of England sees little intrinsic value in Bitcoin"},"content":{"rendered":"<p>Bank of England Governor Andrew Bailey questioned whether the first cryptocurrency holds any intrinsic value. This is according to <a href=\\\"https:\/\/www.reuters.com\/article\/us-britain-boe-bailey-bitcoin\/boes-bailey-sees-little-intrinsic-value-in-bitcoin-idUSKBN26X2AH\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Reuters<\/a>.<!--more--><\/p>\n<p>The central banker reaffirmed his negative stance toward the asset during a public session, saying that in Bitcoin it is hard to discern what we would call &#8216;intrinsic value&#8217;.<\/p>\n<blockquote>\n<p>&#8220;It may have external value in the sense that people want to obtain it,&#8221; Bailey said.<\/p>\n<\/blockquote>\n<p>He warned against using Bitcoin as a means of payment due to its high volatility and an &#8216;undefined value&#8217;.<\/p>\n<p>In March, Bailey spoke about the lack of a guarantee of Bitcoin&#8217;s value. Then he warned that investing in cryptocurrency requires a willingness to lose all funds.<\/p>\n<p>Earlier, at a Brookings Institution virtual conference in September, the central bank governor <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-england-governor-bitcoin-has-nothing-to-do-with-money\">stated<\/a> that cryptocurrency assets &#8216;are not suited for the world of payments&#8217;. In his view, stablecoins may offer more opportunities.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of England Governor Andrew Bailey questioned whether Bitcoin holds intrinsic value. Reuters reports.<\/p>\n","protected":false},"author":1,"featured_media":30006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[216,1138],"class_list":["post-30005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-england","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=30005"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30005\/revisions"}],"predecessor-version":[{"id":30007,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30005\/revisions\/30007"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/30006"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=30005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=30005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=30005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}