The UK's largest retail investment platform Hargreaves Lansdown has warned customers to stay away from Bitcoin, stating that it has no intrinsic value

ChainCatcher news, according to Fortune, the UK's largest retail investment platform Hargreaves Lansdown manages assets of approximately $225 billion. The company has issued an unexpectedly stern warning to clients: stay away from Bitcoin. The notice states that Bitcoin "has no intrinsic value" and should not be included in personal savings or retirement plans.

Hargreaves Lansdown is the third major financial institution to remind clients that cryptocurrencies may have no underlying value, following similar warnings from Deutsche Bank and Elliott Management.

The company stated in a statement: "While Bitcoin has positive long-term returns, it has experienced multiple extreme losses and is a highly volatile investment—risk far exceeds that of stocks or bonds. Hargreaves Lansdown's investment view is that Bitcoin is not an asset class, and we believe cryptocurrencies do not possess the characteristics to be included in a portfolio for growth or income, nor should they be used to help clients achieve financial goals. The performance of cryptocurrencies is unanalysable, and unlike other alternative asset classes, it has no intrinsic value."

The statement also mentioned that the platform will begin offering cryptocurrency trading services to clients.