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International Business Times
International Business Times
Business
Nica Osorio

Ex-SEC Official Says Crypto Has 'No Inherent Value,' Gives Reasons For Price Spike

Crypto SEC John Reed Stark Bitcoin
Bitcoin risk dice roll (Credit: QuoteInspector.com/flickr)

KEY POINTS

  • "For crypto: There's no inherent value. There's no cash flow. There's no yield," says John Reed Stark
  • According to him, prices hike because there is no regulatory oversight and because people can sell the hype
  • Bitcoin was trading in the green zone at $41,614.88 as of 11:03 a.m. ET on Monday

John Reed Stark, the former chief of the Office of Internet Enforcement at the U.S. Securities and Exchange Commission (SEC), took a snipe at the crypto industry, particularly at Bitcoin's price rise, saying cryptocurrencies have "no inherent value."

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