$BTC

Cryptoharian – Since it was first introduced in 2028, Bitcoin (BTC) has continued to be debated. Negative narratives such as fear, uncertainty and doubt (FUD) often emerge, especially when Bitcoin experiences a price increase.

Reporting from cointelegraph.com, although it is now recognized by large financial institutions, investors, and politicians, criticism of Bitcoin is still rolling.

Is It True That Bitcoin Has No Value?

One of the biggest criticisms of Bitcoin is the claim that Bitcoin has no intrinsic value. Figures such as Warren Buffet and the late Charlie Munger have even openly called Bitcoin rat poison and contrary to the interests of civilization.

However, Bitcoin supporters such as Dan Held explain that Bitcoin's value lies in its scarcity and usefulness. With a maximum of only 21 million coins, Bitcoin is often referred to as 'digital gold' because it is considered capable of maintaining value like gold.

In addition, economists Aleksander Berentsen and Fabian Schar point out that fiat currencies such as the US dollar or the Euro also have no intrinsic value, so the criticism is considered unfair.

Is Bitcoin Just a Bubble Like Tulip Mania?

Bitcoin's rapid rise in price has often been compared to economic bubbles in the past, such as the Dutch 'tulip mania' in the 17th century. Some figures, such as JP Morgan CEO Jamie Dimon, have called Bitcoin a fraud. However, his views have changed over time, and now JP Morgan even invests in Bitcoin through ETFs.