The UK's largest retail investment platform, Hargreaves Lansdown, has warned its clients to stay away from Bitcoin, stating that it has "no intrinsic value".

October 10th. Hargreaves Lansdown, being the largest retail investment platform in the UK and having around $225 billion in assets under administration, has issued a rather stern warning to its customers: stay clear of Bitcoin. In the notice, it was stated that Bitcoin has "no intrinsic value" and should not be a part of individual savings or retirement plans. Hargreaves Lansdown is the third major financial institution in recent times to caution customers that cryptocurrencies may have no underlying foundation. This follows similar warnings from Deutsche Bank and Elliott Management. In a statement, the company said, "Although Bitcoin has witnessed positive long-term returns, it has experienced multiple extreme losses and is a highly volatile investment - much riskier than stocks or bonds. Hargreaves Lansdown's investment perspective is that Bitcoin is not an asset class, and we do not think that cryptocurrency has the characteristics to be included in a portfolio to generate growth or income. Nor should it be used to assist clients in meeting their financial goals. The performance of cryptocurrency is assumed to be unanalyzable, and unlike other alternative asset classes, it has no intrinsic value." The statement also mentioned that the platform will commence offering cryptocurrency trading services to customers.