Cryptos worthless?

As reported by CNBC, Bank of England Governor Andrew Bailey said to invest in cryptocurrencies “only if you’re prepared to lose all your money”, noting that “they have no intrinsic value”. Source

According to their own website, “Since 1931, Bank of England money has been fiat money.” Source

As noted by Wikipedia, unlike commodity money or even representative money, “Fiat money does not have intrinsic value”. Source

Okay then.

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