Morgan Stanley: Real price of bitcoin could be $0.00

Bitcoin could be worth literally nothing, if the cryptocurrency is not recognized as a rival of the US dollar and other fiat currencies, warns analysts of a banking giant Morgan Stanley.

"If nobody accepts the technology for payment, then the value would be 0," analyst James Faucette and his team wrote in a note to clients.

Faucette is referring to a list of online retailers who accept bitcoin. The table is titled "Virtually no acceptance and shrinking" and shows the data.

Bitcoin is not like a currency because there is no interest rate associated with bitcoin, the analyst wrote.

It's not like gold either, as it doesn't have any intrinsic use like gold.

According to Faucette, bitcoin is tiny compared to traditional financial instruments.

"Bitcoin average daily trading volume of $3 billion (last 30 days) vs. $5.4 trillion in...