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

By  (contrib. Leonard Ducharme)
in-the-eye-of-the-beholder-what-gives-b main image
Bitcoin’s value is a complex topic spanning numerous aspects; however, its value could be attributed to several factors.

Notable mainstream attention has shifted toward Bitcoin amid its meteoric rise, with the asset having recently tapped over $52,500 per coin. Bitcoin (BTC) has seen an increasing wave of interest from mainstream companies, gaining status as a hedge, unique from other asset classes. What makes Bitcoin valuable, though? 

Perhaps one of the simplest answers regarding Bitcoin’s value is that it’s “worth what somebody will pay for it,” as stated by billionaire Mark Cuban in 2019. A number of other components factor into the equation, however, making BTC unique over its competition. Although, Bitcoin is still young when compared to assets such as gold and stocks, so it must continue proving itself and gaining traction. The asset’s failure is still possible and is also prone to volatility.

Bitcoin’s history and basic use

Pseudonymous creator Satoshi Nakamoto published the written framework for Bitcoin in 2008. The asset subsequently went into circulation in early 2009, pegged to no specific value. BTC circled . . . .