“Bitcoin has no value at all”: Finance expert explains the downfall of cryptocurrency

With one of the largest cryptocurrency exchanges in FTX collapsing into bankruptcy, a finance expert has weighed in on how the digital currency system has pasted its use by date.

Editor in chief at the Eureka Report and finance commentator at the ABC, Alan Kohler, explained the downfall of cryptocurrency on 3AW Drive earlier.

“There’s actually about 3,000 cryptocurrencies and they’re all down, they’re all falling quite a lot,” Mr Kohler told Tom Elliott.

“Everyone will discover at some point that Bitcoin has no value at all really, there’s no use, it won’t ever be money.”

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