Sophie Bearman | @stbearman
Published 9:13 AM ET Tue, 16 Jan 2018 Updated 3:44 PM ET Wed, 17 Jan 2018
CNBC.com

Here’s one argument for why they’re wrong.

Bitcoin’s price has been on a wild ride since its inception.

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2017 alone saw massive gains, starting the year at under $1,000 and, at its peak, breaking $19,000, according to industry site CoinDesk.
On Tuesday, it was trading at $11,943, a decline of 12 percent, according to CoinDesk.
As bitcoin’s popularity surges and its price rises and falls, more and more people are asking the same question: How does bitcoin, something that’s essentially invisible and intangible, have value?

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