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Home Crypto

Crypto investors will lose all their money says Bank of England Governor

by Reshab Agarwal
June 15, 2022
in Crypto, News
Reading Time: 3 mins read
0
Bank of England's governor says Bitcoin has no intrinsic value

Andrew Bailey | Image Source: CNBC

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The Governor of the Bank of England, Andrew Bailey, recently indicated that crypto investors will lose all their money. His warnings came after Celsius froze withdrawals after the markets continued to crash. This was in order to preserve liquidity and meet their future obligations. Andrew believes that crypto doesn’t have any intrinsic value, and investors should be prepared to lose everything.

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Andrew Bailey strongly believes that crypto investors will lose all their money

In the British parliament’s public accounts committee, Andrew talked about his concern regarding cryptocurrency investing. He also brought forth a problem that hasn’t been discussed before. This was the government’s goal to promote financial innovation, clashing with the regulator’s duty to protect investors. So, he said that if someone wants to invest in them, they should be prepared to lose it all.

Crypto investors will lose all their money says Bank of England Governor
Image Source: Financial Times

Andrew says that crypto doesn’t have any intrinsic value, but there are still a lot of investors because of crypto’s extrinsic value. In other words, crypto is worthless and whatever value it has is due to people valuing it for their own reasons. He also openly pointed out the paused withdrawal of Celsius exchange after the prices crashed.

What is the difference between extrinsic and intrinsic value?

The intrinsic value of an asset is a measure of its worth. Rather than using the asset’s current trading market price, this metric is calculated using a formula or a complicated financial model. The word is used in financial analysis to describe the process of determining a company’s or asset’s fundamental worth and cash flow as closely as possible.

Extrinsic value refers to the difference between an option’s market price or premium and its intrinsic value. Extrinsic value is the portion of an option’s worth that has been allocated to it by variables other than the price of the underlying asset. It is the polar opposite of intrinsic value, which refers to an asset’s inherent worth.

Now, it’s difficult to argue whether crypto has an intrinsic value or not, but we all can agree that the value of something comes from its usefulness. So, in a time when the value of the global currency USD is falling at such a rapid pace, and there is a need for an alternative, we have Bitcoin. There are some volatility concerns, but we should also note that there is time before we get there.


What are your thoughts, as Andrew Bailey says, that crypto investors will lose all their money? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Is the crypto market bottom here? Hayes, Raoul Pal, and Novogratz give their opinion.

Tags: #Andrew_Bailey#Bank_of_England#Crypto
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Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

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