Key Takeaways
Economist Steve Keen, who famously predicted the 2008 financial crisis, stated on April 7, 2026, that Bitcoin's intrinsic value is zero and its market price is destined to follow.
"Bitcoin is a solution in search of a problem, and the solution doesn't work," Keen said in a statement, questioning its utility beyond speculation.
The declaration comes as Bitcoin trades around the $65,000 level, down 2% over the last 24 hours. The broader crypto market saw over $150 million in long position liquidations in the same period, according to Coinglass data, as the comments circulated.
Keen's prediction injects significant bearish sentiment into the market, challenging the "digital gold" narrative held by many investors. The key level to watch remains the $60,000 psychological support, which has held firm three times in the last quarter.
Professor Keen's argument centers on Bitcoin's inability to function as a viable currency due to its price volatility and slow transaction speeds. He contrasts it with traditional assets and fiat currencies, which are backed by productive capacity or state authority. His stance is a direct challenge to the bullish theses presented by firms like MicroStrategy and ARK Invest, which hold billions in Bitcoin.
The statement could particularly influence institutional investors who are still evaluating the long-term risks of allocating capital to digital assets. While crypto proponents point to its decentralized nature and fixed supply as key strengths, critics like Keen see a purely speculative bubble with no underlying value. The market's reaction in the coming weeks will serve as a key test of investor conviction.
This article is for informational purposes only and does not constitute investment advice.
