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- Bitcoin has value because it functions as a store of value and a unit of exchange12. It has a limited supply, cannot be counterfeited, and is easily transportable and transferable3. Additionally, its value is derived from the number of people using the platform, a concept known as the 'network effect'4.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Bitcoin has value because it can function as a store of value and a unit of exchange. It also demonstrates six key attributes that enable its use in an economy. The definition of value in a currency has changed over centuries from physical attributes to the velocity of its use in an economy.www.investopedia.com/ask/answers/100314/why-d…Understanding the key factors that drive why Bitcoin is valuable is crucial for anyone interested in the cryptocurrency market. The limited supply, demand and market sentiment, its use as a medium of exchange, and its role as a store of value all contribute to Bitcoin’s value.crypto.com/bitcoin/bitcoin-value-what-drives-btc-wo…One of the most common answers to this question is that Bitcoin has currency-like characteristics that make the asset valuable. Bitcoin has a limited supply, it can’t be counterfeited, it is easily transportable and transferable, much like any other fiat currency out there.mybtc.ca/article/why-is-bitcoin-worth-so-muchWhy is Bitcoin worth anything? Bitcoin fundamentally relies on a theory known as the 'network effect'. Much like social media networks today, its value is derived from the number of people using the platform. The more people mining and trading Bitcoins, the easier it is to secure and transfer.www.itpro.com/strategy/28758/what-is-the-value-o…
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Why does Bitcoin have value? | The Block
WEBMay 21, 2024 · Since its public launch in 2009, Bitcoin has risen dramatically in value. Although it once sold for under $150 per coin, as of June 8, 1 BTC equals around $30,200.
WEBApr 20, 2024 · Bitcoin's price changes because of its supply, the market's demand, media and news, and regulatory changes. Some research suggests that the cost of producing a bitcoin also influences its...
The brutal truth about Bitcoin | Brookings
WEBJul 20, 2021 · It has no intrinsic value and is not backed by anything. Bitcoin devotees will tell you that, like gold, its value comes from its scarcity—Bitcoin’s computer algorithm mandates a fixed...
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