‘No intrinsic value’ is a common cant of the financial regulators in relation to buying into crypto.

They say that crypto does not represent anything in the material world. So it is backless with no spine.

But so is the dollar since 3rd of April 1933. Before this time you could literally take you $20 note into any American bank and demand it’s equivelant in gold bullion. Now you would be laughed at.

Money is solely and only an idea backed by confidence. The dollar has had no intrinsic value since it was no longer tied to the gold.

This applies more to crypto as we seen when Elon Musk recently tweeted Telsa would no longer accept Bitcoin and so it crashed.

Then El Salvador made it legal currency. It got more confidence again.

Now Goldman Sachs is about to start trading in crypto options. So the markets bouncing back up.

Because people have confidence in the concept.

And money is just an idea back by confidence.

So betting on crypto is like betting on us all having a future when governments don’t control a central currency…

Or crypto is backed by bitcoin which is somewhere connected enough to the buck to be backed by it, which is backed by the US government, which is backed by it’s people… who are slowly and surely using crypto more as a way of living.

So intrinsic value is a loose term when talking about all currency.

I would argue that is worth betting on.