Morgan Stanley says the true price of bitcoin might be zero
- Even after a rough week, bitcoin is trading at around $14,400.
- A recent research note from Morgan Stanley points out how hard it is to justify that valuation.
- The scarcity of people willing to accept it as a means of payment indicates that its actual value might be nothing.
Morgan Stanley analyst James Faucette and his team sent a research note to clients a few days ago suggesting that the real value of bitcoin might be ... $0.