Bitcoin, like any asset that can never produce earnings, has an intrinsic value of $0.00; it’s only worth what other people will pay for it. So why has it become an integral part of so many portfolios?

“Every project I studied in crypto seems like garbage to me, and it doesn’t really have a real reason to exist — other than Bitcoin, which I think could turn out to be one of the most important inventions in all of human history,” Mark Casey, portfolio manager at Capital International Investors, said on May 17 at the Morningstar Investment Conference.

Christopher Lin, portfolio manager at Fidelity Investments, said it is important to understand the true problems that cryptocurrency — specifically Bitcoin — actually solves; it is not a panacea for everything digital in the world and should not be thought about that way. 

Bitcoin solves three problems that everybody in the world has, whether they…