News

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

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

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.

Arpit Dubey
Written By
Arpit Dubey
Arpit is a dreamer, wanderer, and a tech nerd who loves to jot down tech musings and updates. With a logician mind, he is always chasing sunrises and tech advancements while secretly preparing for the robot uprising.

Think Your Professional Journey
Deserves A Spot In Our 40 Under 40 Report?

Latest Blogs

News

Google’s Gemini Apologizes For Making Historical Mistakes

4 min read  

Google Gemini is one of the most popular generative AI tools in the current market. With OpenAI and other top players continuously improving their efficiency and accuracy, Google has also stepped up its capability improvement. However, its latest update in Gemini has resulted in glaring mistakes in

News

Reddit May Sign Content Licensing Deal With Google For AI Training

4 min read  

Large Language Models have been trained on the scrapes of the internet, which may not help get the best results. With recent regulations in place, using the content of private businesses for training AI models has been strictly restricted. To increase the quality of its AI models intelligence, Googl

News

Multiple Users To Secret Codes, Here Are WhatsApp’s Latest Updates.

4 min read  

Meta has revamped almost every feature of WhatsApp after its acquisition without reducing the brand recall value or overall look and feel. The tech giant has been releasing multiple series of updates to improve security, user journey, privacy, and control. The world’s most popular messaging pl

News

Neuralink’s First Patient Can Control Mouse With His Thoughts

4 min read  

We all dream of getting at least one superpower in our name. Whether it is flying freely or controlling things with your mind, the urge to be able to do something beyond the ordinary is on almost every person’s wishlist. While we know that miracles cannot happen in the real world, Elon Musk ha

Featured Interviews

Interview

Interview With Coyote Jackson, Director of Product Management, PubNub

MobileAppDaily had a word with Coyote Jackson, Director of Product Management, PubNub. We spoke to him about his journey in the global Data Stream Network and real-time infrastructure-as-a-service company. Learn more about him.

MAD Team 4 min read  
Interview

Interview With Laetitia Gazel Anthoine, Founder and CEO, Connecthings

MobileAppDaily had a word with Laetitia Gazel Anthoine, Founder and CEO, Connecthings. We spoke to her about her idea behind Connecthings and thoughts about the company’s services.

MAD Team 4 min read  
Interview

Interview With Gregg Temperley, Founder Of ParcelBroker App

MobileAppDaily had a word with Gregg Temperley, Founder. We spoke to him about his idea behind such an excellent app and his whole journey during the development process.

MAD Team 4 min read  
Interview

Interview With George Deglin, CEO Of OneSignal

MobileAppDaily had a word with George Deglin, the CEO and co-founder of OneSignal, a leading customer messaging and engagement solution, we learn multiple facets related to customer engagement, personalization, and the future of mobile marketing.

MAD Team 4 min read