All about intrinsic value.

"This year, crypto companies are barging into the Super Bowl ad showdown, which as usual also includes more traditional advertisers like beer and car companies," CBS News. "A cryptocurrency is a medium of exchange that is digital, encrypted and decentralized. Unlike the US Dollar or the Euro, there is no central authority that manages and maintains the value of a cryptocurrency," Forbes. These tasks are performed by other users of the currency over the internet by using blockchain technology. Whatever that is. There are hundreds of cryptocurrencies, of which the Bitcoin is probably the best known. Each Bitcoin is worth $42,420, Coin Market. Super Bowl is the final of the National Football League in the US, wikipedia. Unlike normal football, or soccer, which is played with a round ball, American football is played with an oval shaped ball, with players wearing helmets and padding, and 7 referees who throw pieces of yellow colored cloth to call a foul play, wikipedia. Super Bowl advertising is expensive. "NBC -- which is broadcasting this year's game -- announced last week that it is sold out of Super Bowl ads, with multiple 30 second spots having sold for a record $7 million each," KCRA News. "Much of the Super Bowl audience may not know a lot about crypto, which provides an opportunity for these crypto advertisers to reach new customers, (Prof Robert) Kolt said." $7 million will buy 160 Bitcoin or 2,200 Ether, CNN. "FTX, a crypto exchange that recently raised funding valuing it at $32 billion" "is promising to give away bitcoins as part of the promotion". "A study conducted by the portal BrokerChoose's annual crypto proliferation index reveals that at over 10 crore (100 million), India has the largest number of crypto owners in the world followed by the US and Russia," TOI. While the US Federal Reserve and the European Central Bank (ECB) seem to be happy with citizens buying cryptos, "The Reserve Bank of India (RBI)...reiterated its stance on cryptocurrency and said the digital asset is a huge threat to macroeconomic and financial stability," CNBC. "RBI has remained critical of cryptocurrencies as it believes there is no intrinsic value in the digital asset." What is the intrinsic value of a the Penny Black stamp that was offered for auction at $8.25 million? Reuters. "India's central bank chief delivered a stark warning against investing in cryptocurrencies, saying that they lacked the underlying value of even a tulip," Reuters. He was referring to a bubble in tulip bulbs in the Netherlands in the 1600s, when "the rarest tulip bulbs traded for as much as six times the average person's annual salary", Investopedia. Wow, such erudition! The RBI is worried because it has printed huge amounts of rupees to finance government borrowing so that banks were having to park Rs 6-8 trillion in the RBI's reverse repo window at 3.35-3.75% in mid-December, wrote Madan Sabnavis. Cryptocurrencies have to be bought in foreign currencies before they can be sold for rupees within India. The RBI maybe worried that this may show up the intrinsic value of the rupee. And who is responsible.