Cryptocurrency analyst says bitcoin has no value

Renowned economist and Johns Hopkins University professor Steve Hankey has once againcriticized Bitcoin BTC $91,786.12 Mezo Wrapped BTC 0.16% Market capitalization $40.76 million VOL. 24 hours $2.41 billion , saying that the cryptocurrency «has no fundamental value.» He wrote about this on December 16 in his post on X (formerly Twitter), commenting on the fall of the BTC rate below $ 86,000. In his opinion, Bitcoin remains «a highly speculative asset with no intrinsic value.»

Genki, who has long been a critic of the first cryptocurrency, believes that it cannot be considered a real currency due to excessive volatility, which makes it unsuitable as a means of payment or a reliable store of value. Earlier, he repeatedly called the growth of the Bitcoin exchange rate an «irrational impulse» and warned that such «bubbles» would inevitably burst.

The economist also criticized the idea of creating a state Bitcoin reserve in the United States, calling such initiatives erroneous and ineffective. In his opinion, investments in BTC do not contribute to the development of the real economy, including infrastructure or job creation.

Hankey has repeatedly spoken out against the national introduction of Bitcoin, as El Salvador has done, where the cryptocurrency has the status of legal tender. He believes that such a policy could destabilize the economy and increase inflationary risks.