Julia Leung, the chief executive of the Hong Kong Securities and Futures Commission, said that bitcoin has clearly shown its staying power as an alternative asset.

In a Wednesday speech delivered at the Greenwich Economic Forum Hong Kong, Leung said that most central bankers and economists would say that virtual assets like bitcoin and ether do not have any intrinsic value.

“I do not disagree with this view. While the intrinsic value debate will continue, it is a fact that, 15 years on, Bitcoin has survived multiple cycles of boom and bust, clearly showing its staying power as an alternative asset,” Leung said. “More clearly, its underlying technology — DLT — is here to stay.”

Leung’s comment on bitcoin came as the SFC’s licensing regime officially kicked off its recent requirement …