Bitcoin sceptics frequently argue that bitcoin lacks intrinsic value, claiming that investments like real estate, with their tangible cash flows, are superior. In this article, I will debunk the myth of ‘intrinsic value’ and illustrate why cash flow has no direct impact on an asset’s ability to serve as a reliable store of value, even in the context of real estate.

The myth of intrinsic valueThe idea that value is inherently embedded in objects is a misconception. This common belief, influenced by the labor theory of value (LTV) – a flawed concept used in classical economics, Marxism and modern economic theories, which posits that value is inherently tied to labor, energy invested or…

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