Morgan Stanley Analyst: True Worth Of Bitcoin Could be Zero - MobileAppDaily
MobileAppDaily

Bitcoin's Real Worth Might Be $0 Warns Morgan Stanley

The real price of Bitcoin could be zero as per Morgan Stanley reports

Blockchain published date 27th December, 2017 Meenal Vashistha

The real price of Bitcoin could be zero

The financial mechanism of bitcoin is as tough as the concept itself. The virtual digital currency has created all the hype all these years only to break all the records (the worth) the cryptocurrencies had ever made. Bitcoin was all there in the news owing to the worth it has gained in a short-time period. While the digital currency gained all the attention, the worth of this particular digital currency is still increasing exceptionally.

Although Bitcoin has raised to a price of $16,000 today analyst James Faucette has another take on it. Through a researched note issues last week, the analyst claimed that the actual value of Bitcoin could actually be zero. The research note titled “ Bitcoin Decrypted” suggested a number of reasons for considering bitcoin worth US dollar zero.

From a list of the reasons, the one outlined is bitcoin is not a real currency, Faucette said, mentioning Bitcoin has no interest rate. Another reason is Bitcoin lacks intrinsic value as it is not a physical currency or an element that has real worth. Bitcoin is valued as a payment network. The analyst mentioned, “virtually no acceptance, and shrinking,” adding “if nobody accepts the technology for payment then the value would be 0.”

This is not for the very first time Faucette has mentioned comments on the worth of a cryptocurrency. In the July this year, Faucette’s team has also mentioned that the “virtual acceptance of cryptocurrency is zero and shrinking.” since then cryptocurrency is scaling like never before. Well, the reports have all the reasons to predict bitcoin’s diminishing growth, but the time and investment in this virtual currency will further suggest the true worth of this cryptocurrency. "If nobody accepts the technology for payment then the value would be 0," Faucette suggested in the research paper.

Meenal Vashistha

Meenal Vashistha

Meenal currently works as a writer for Mobile App Daily. In the course of past five years, she's dabbled her way through Entertainment, Lifestyle, Automobiles only to find her one true love- technology. She uses all this information to help people she meets while traveling the globe. While a woman of few words, she can write blogs on anything endlessly.

Was this article helpful?

Quick BuzzQuick Buzz
  • Tencent, Chinese tech giant has bought 12 percent of Snap’s share
  • Instagram continues Snapchat assault, lifts 24 hour limit on Stories clone
  • Snapchat Redesign to Launch on December 4, New UI Detailed
  • Facebook tests fighting revenge porn by asking users to file nude photos first
  • Kids have sent more than 65,000 smartphone messages by the time they’re 14 in UK
  • Indonesia warned the WhatsApp about the sexual content and threaten to block the app in the country.
  • Snapchat shared its Q3 earnings and the figures are lesser than what company expected.
  • Facebook has almost 60 million fake accounts on the platform says the company itself.
  • Google pulled off the fake WhatsApp Update from the Play Store after it hits 1 million downloads.
  • Instagram is testing stop-motion camera feature for stories
  • Now you can schedule live streaming on YouTube mobile app
  • Sony adds it's Xperia assistance app to the Google Play Store
  • Microsoft added new design to Skype for desktop and mobile apps
  • Celebrity mobile apps target 60 million smartphone users in the Philippines
  • Google Play Protect failed miserably in a recent test by a German software testing laboratory.

Shortlist, compare and
hire the best
mobile app partner!

Find Now

mobile app industry

advertisement