There’s no question that cryptocurrency investment is a risk, and most financial analysts in the U.S. have echoed that belief.

Still, there’s no arguing the dramatic market upswing in the digital assets.

That’s going to change, though, Bank of England Governor Andrew Bailey said, and when it does, he warns investors will be in trouble.

“They have no intrinsic value,” Bailey said at a news conference on Thursday that addressed the rise in crypto value. “I’m going to say this very bluntly again. Buy them only if you’re prepared to lose all your money.”

His caution is understandable – and most crypto believers are familiar with the argument. Bitcoin and ethereum are on a roll now, but only four years ago there was a rapid buildup, too, that saw bitcoin approach $20,000 and then plummet to nearly $3,000.

Bailey is the former chief exec of the U.K. Financial Conduct Authority, which said in January: “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money.”

Bitcoin is up more than 90% this year as financial heavy hitters, including Tesla, have invested and use it as an acceptable form of exchange.

Tesla CEO Elon Musk oversaw the purchase of $1.5 billion worth of bitcoin a few months ago and saw his company’s value rise. 

And, with Musk set to host Saturday Night Live this weekend perhaps helping to drive interest, meme-inspired Dogecoin shares, at $.06 in April, are at $.60 as of Friday morning. 

There are strong opinions on both sides.

In a CNBC story, Michael Hartnett, chief investment strategist at Bank of America Securities, said bitcoin appears to be the “mother of all bubbles,” and Stephen Isaacs of Alvine Capital argues there are “no fundamentals with this product, period.”

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