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05 March 2021

In the eye of the beholder: What gives Bitcoin its value in 2021?

In the eye of the beholder: What gives Bitcoin its value in 2021?


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What gives Bitcoin its value in 2021?

Notable mainstream attention has shifted toward Bitcoin amid its meteoric rise, with the asset having recently tapped over $52,500 per coin.

Although, Bitcoin is still young when compared to assets such as gold and stocks, so it must continue proving itself and gaining traction.

BTC circled around online communities and such through the years, gaining value over time as an online method of payment requiring no involved sensitive user information.

Regardless of its historical journey upward in price, Bitcoin is now often seen as a store of value, holding a number of valuable characteristics.

At times, its price travels in line with other markets, while at other times, the asset’s value moves to the beat of its own drum.

Unlike national dollars, gold or other assets, Bitcoin holds a finite supply.

With Bitcoin, holders can also store and transfer large sums of money much more easily than other hedge assets, such as gold or real estate.

Bitcoin has seen its fair share of comparisons to gold over the years — at times being called digital gold.

“You can’t debase it; it’s not a fiat derivative like a bond or a stock,” Saylor said of Bitcoin during a January 2021 interview with Nomad Capitalist.

Others have also called Bitcoin a bubble, such as Russian politician Anatoly Aksakov in early 2021?

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cointelegraph.com
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