Encrypted currency analyst Alex Krüger: "The intrinsic value of Bitcoin is determined by its mining costs" is wrong

Cryptographic currency analyst Alex Krüger forwarded a Zeroohedge article on the Twitter platform and said: JP Morgan analysts acknowledged a relatively obvious fact in the past two months – behind this bit of bitcoin bull market is mainly Institutional investors, not as retail investors as during the 2017 Bitcoin boom. Alex Krüger added a comment: A month ago, the same analyst wrote that the intrinsic value of Bitcoin was determined by its mining cost (which is incorrect), and how the transaction price of Bitcoin was higher than the inside. Value (price is too high). How much return can these bankers receive after being late or making mistakes?