OREANDA-NEWS  The fair value of bitcoin is zero. This opinion was voiced by Ulrich Bindzail, Director General of the Department of Market Infrastructure and Payments of the European Central Bank (ECB), and Jurgen Schaaf, adviser to this department, as quoted by Interfax.

In January, the Securities and Exchange Commission (SEC) The United States has approved the launch of the first ETFs investing directly in cryptocurrency. ECB employees note that this decision was a confirmation for bitcoin adherents that such investments are safe, but they do not agree with this.

According to them, the main cryptocurrency is not a good choice for investing funds, and also is not suitable for use as a means of payment. As an example, Bindzail and Schaaf named El Salvador, where even after bitcoin was recognized as a means of payment, it did not become widespread. Experts have noticed that such calculations are almost never made outside the darknet. At the same time, for investors, bitcoin does not bring either cash flow (like real estate) or dividends (like securities), and it cannot be used effectively.

In February, the price of bitcoin exceeded 50 thousand dollars — quotes overcame this value for the first time since the end of 2021. Konstantin Ordov, director of the Plekhanov Russian University of Economics Higher School of Finance, believes that cryptocurrency is becoming more expensive due to uncertainty in the global economy. He explained that traditional gold has ceased to perform anti-inflationary and anti-crisis functions that were previously attributed to it. At the same time, after allowing the issuance of ETFs linked to cryptocurrencies and bitcoin in particular, there was an increased demand for them.