<p>Andrew Bailey, the governor of the Bank of England, has said that bitcoin may not have intrinsic value or the perceived worth determined through fundamental analysis.</p> <p>"I have to be honest, it is hard to see that bitcoin has what we tend to call intrinsic value," <a href="https://www.reuters.com/article/us-britain-boe-bailey-bitcoin/boes-bailey-sees-little-intrinsic-value-in-bitcoin-idUSKBN26X2AH">said</a> Bailey during a session, as reported by Reuters on Monday. "It may have extrinsic value in the sense that people want it."</p> <p>There appears to be a bit of a shift in Bailey's sentiment. Previously, he has clearly <a href="https://www.theblockcrypto.com/linked/57778/bank-of-england-governor-designate-if-you-want-to-buy-bitcoin-be-prepared-to-lose-all-your-money">said</a> that bitcoin has "no intrinsic value."</p> <p>On Monday, Bailey also said that he is "very nervous" about people using bitcoin for payments because its value is uncertain and price extremely volatile.</p> <p>Bailey has previously <a href="https://www.theblockcrypto.com/linked/57778/bank-of-england-governor-designate-if-you-want-to-buy-bitcoin-be-prepared-to-lose-all-your-money">warned</a> would-be bitcoin investors, saying that "be prepared to lose all your money," as buying bitcoin is similar to gambling.</p>