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why is bitcoin worth so much

why is bitcoin worth so much

why is bitcoin worth so much插图

Best answer

Bitcoin is valuable because it鈥檚censorship-resistantand has the largest security network out of any cryptocurrency. When a person or organization wants to store their money on the safest network, they choose Bitcoin. Ethereum, NEO, Cardano and Tezos have value because they enable smart contracts.

People also ask

  • Why is bitcoin worth so much more than other cryptocurrencies?

  • | Why Bitcoin Is Worth So Much More Than Other Cryptocurrencies | Bitcoin is almost synonymous with the term cryptocurrency, and there are two primary reasons why: First, Bitcoin was the original cryptocurrency, getting its start in 2009. Second, Bitcoin is the most valuable cryptocurrency.

  • Could bitcoin hit $318k by the end of next year?

  • One Citibank analyst says Bitcoin could hit $318,000 by the end of next year, likening its meteoric rise to the 1970s gold market. An ounce of gold was worth about $35 in the beginning of 1970, compared to a little more than $1,900 now. Part of gold鈥檚 appeal, as Paul Tudor Jones noted, is its value as an inflation hedge.

  • Is bitcoin’s mainstream understanding and acceptance good for the market?

  • Bitcoin鈥檚 mainstream understanding and acceptance, especially by institutional investors and foreign retail traders, are fresh and exciting milestones for sure 鈥?but they鈥檙e only representative of more demand. New demand from new sources, yes, but garden-variety demand nonetheless.

  • Does bitcoin have more room to grow than gold?

  • The case, then, is that Bitcoin has much more room to grow than gold and will continue to attract big money in search of high returns in an era of low yields.