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Author: Admin | 2025-04-27
Nearly four times the value in January 2024 after the Securities and Exchange Commission approved Bitcoin Spot ETPs. Arguments Against Bitcoin Intrinsic Value There are as many arguments against the possibility of Bitcoin's intrinsic value as there are claiming the cryptocurrency has an underlying value. Here are a few of them. Bitcoin Is a Convertible Currency Products, services, wages, and salaries are not valued in bitcoin but in fiat currency. Bitcoin must be converted to a government-backed currency to be used, even in countries where it is recognized as legal tender. The argument here is that because Bitcoin is convertible, it doesn't have any underlying value. Nothing Has a Fundamental Value Based on the subjective theory of value, the argument against Bitcoin's intrinsic value is that resources, labor, production costs, or other expenses involved in getting a product or service to market are variable and depend on its context, perception, and value to whoever purchases it. Thus, it is believed that no intrinsic or underlying value can be assigned to Bitcoin—only the value placed on it by those who purchase or use it is relevant. A Bitcoin Collapse Will Not Shake the Economy Bitcoin is not a legal tender but a currency that can be converted to legal tender. Some also argued that it is not inherently linked to current financial systems nor used by enough people to be a concern. So, its lack of widespread adoption is believed to be evidence that if the cryptocurrency were to fail, it
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