Bruno Biais: cryptocurrencies have value only if people believe in them

HEC economist Bruno Biais analyzes the fundamental nature of cryptocurrency value based on collective belief.

Published 9sem1 sourceupdated 9sem

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The fact

According to Biais, digital assets have no intrinsic value outside the trust users place in them.

This analysis sheds light on theoretical debates about money, value, and digital financial market functioning.

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Auto-synthesis from 1 media source · identified on May 12, 2026