BoE's Bailey sees little intrinsic value in Bitcoin

Bank of England Governor Andrew Bailey said on Monday it was hard to see how Bitcoinhad any intrinsic value and he cautioned over its use as a means of payment."I have to be honest, it is hard to see that Bitcoin has what we tend to call intrinsic value," Bailey said during a BoE question and answer session with members of the public."It may have extrinsic value in the sense that people want it."