Bitcoin up over 580% since Joe Rogan guest claimed it had ‘no intrinsic value’
When geopolitical analyst Peter Zeihan appeared on the Joe Rogan Experience , he made headlines for calling Bitcoin fundamentally worthless, stating that it had “no intrinsic value” and was “actually worth negative $1,000.” At the time, Bitcoin was trading at around $16,000 on January 7, 2023. “It has another $17,000 to go down,” Zeihan said during the podcast. “There’s no intrinsic value to this product.” He argued that the rise of crypto was more ideological than financial. “Whenever you invest based on an ideology, you’re going to make some decisions that are a little divorced from math,” he added. Zeihan described the crypto movement as a belief system rooted in decentralization: “The people who really like crypto are convinced that it’s the currency of the future, that a decentralized ledger is the way to go, and that anything controlled by a government entity is by definition negative. And if it’s done by the private ...