“However, with no intrinsic value, huge price volatility and no discernible social good, consumer trading of cryptocurrencies like Bitcoin more closely resembles gambling than a financial service, and should be regulated as such. By betting on these unbacked ‘tokens’, consumers should be aware that all their money could be lost.”
Harriett Baldwin, Member of Parliament, West Worcestershire · Bitcoin since: +193%
A little perspective.
Bitcoin on that day$27,399May 17, 2023
$100 at that price$292.69At our latest price check
Illustrative value using a Bitcoin price of $80,193, checked Oct 29, 2026, 2:02 PM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “Crypto Has ‘No Intrinsic Value’ And ‘No Useful Social Purpose,’ Say Lawmakers” — Harriett Baldwin, TNW, May 17, 2023. Bitcoin: $27,398.8. https://bitcoindeaths.com/posts/2023-05-17-crypto-has-no-intrinsic-value-and-no-useful-social-purpose-say-lawmakers