Crypto assets have ‘no intrinsic value,’ UK market watchdog warns

Crypto assets have ‘no intrinsic value,’ UK market watchdog warns

The UK’s financial regulator has warned against investing money in cryptocurrencies such as bitcoin, as they lack assets to guarantee their value and are therefore unsecure. Bitcoin and over 4,000 of its alternatives have no assets or guarantee to support them, unlike hard currencies such as the dollar or the pound.