The reason why bitcoin has become such a valuable asset

Yusra3

VIP Contributor
There's the reason behind the growth of anything, let it be stock or currency or yea cryptos. No one had imagined that bitcoin would run so far, and now people suspecting that it may go higher and higher. But why it has turned into a so pricey asset. In my opinion, the following are the reason.

1. Since the reservoir is limited of bitcoin, hence the stoking demand boosting the price.
2. Accepted in all the exchanges and can freely be converted to any altcoins or rulings without hustle.
3. It has been universally accepted in multiplex online positions like kiosks forex brokers, online shopping positions. You can buy anything with it.
4. No chances of manipulation of the price as it's exhaustively decentralized
 

btaliat

VIP Contributor
There are many reasons why bitcoin has gained tremendous fame. It has been accepted mostly on some online platforms as a means of payment. Aside this, there are some countries that have also accepted the uses of bitcoin as their legal tender. And ever since its creation, bitcoin has never left the number one spot.
 

Jasz

VIP Contributor
Bitcoin has become a valuable asset because of the following reasons:

1. It is an inflation-proof asset. Because there is a limited amount of bitcoin (21 million), its value is not dictated by governments as fiat currency or precious metals are. This way it's value could not go down because of inflation and depreciation.

2. Bitcoin can be used worldwide without any need to convert into local currency. Due to the fact that there isn't any central authority, the transactions made with bitcoin are cost-effective and without any borders restrictions.

3. Bitcoin is a safe asset because it uses strong encryption technology that ensures that nobody can hack into your account and steal your money or use it in any way without your permission. It also provides an opportunity to store your funds safely on your own computer or mobile device, which makes you independent from banks and their fees as well as other problems they may cause.
Bitcoin is the most valuable cryptocurrency on the market. One bitcoin is worth more than one ounce of gold, more than one ounce of silver, and more than one ounce of platinum. It's also worth a whole lot more than any other cryptocurrency on the market.
 

Abubakar chado

New member
I think the main reason why it's going the same one of the most valuable coin in the market was because it was the first coin that was launched or maybe because of its name
 

Ajebo25

Verified member
Bitcoin is a coin which was introduced and launched in 2009 back then nobody knew what it was even I am still regretting that I didn't invest it or even buy any biscuit at that time because people if everybody looked at it as a joke even wondered what was Bitcoin during 2017 and it was the first coin to get launched I think the reason why gets going gain more value was because it was one of the most or first introduced coin in the market maybe that's why the coin is respected that even yeah order many coins in the markets but I still wonder why they didn't gain enough popularity and value as Bitcoin maybe the person who owns Bitcoin is popular all they may be some good explanation or other reasons to why between has more value in the market than any other coin another coin which gained another value apart from Bitcoin Indy crypto like Dogecoin and other coins but I don't know why Bitcoin has suddenly gain value over the years I think this time other coins will gain value to just like this Bitcoin with time order coins which are sea now will also be hard to see in the future so we better invest in him and mind them in our wallets now who knows we can become a crypto millionaire
 

Hooligan

New member
The reason that it is so pricey can be the limited supply, the more bitcoin is mined, the higher the price will go. Because it is limited, it is also high in demand and trending which is causing the price to go even higher. Anyways, bitcoin is going to be a valuable digital asset in the future.
 

Ponmo

Member
Everyone seems to be investing and grabbing a share in the market, there is an increasing demand for bitcoin and due to limited supply has in turn increased the price of the set assets.
 

Bings Stars

New member
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markwood

New member
Everyone seems to be investing and grabbing a share in the market, there is an increasing demand for bitcoin and due to limited supply has in turn increased the price of the set assets.
 

Syngenesis

New member
There are numerous reasons why bitcoin has become so popular. It has largely been accepted as a payment method on several internet platforms. Aside from that, some countries have also accepted bitcoin as legal tender. Bitcoin has remained the top cryptocurrency since its inception.
 

Good-Guy

VIP Contributor
I do not think that there is single main reason why Bitcoin became so popular. There are many reasons that led to the popularity of Bitcoin.

1) Investors

One of the main reasons why Bitcoin became so popular is due to the fact that there are so many people who have invested money in Bitcoin. Bitcoin would not have become popular if investors had not invested money in Bitcoin. One of the main reasons why Bitcoin is falling right now is due to the fact that many investors have withdrawn their investments from Bitcoin and this mainly led to the downfall of Bitcoin.

2) Bitcoin As A Payment method

This is also one of the main reasons why Bitcoin became so popular. Before Bitcoin was invented, people mainly used traditional payment method like bank accounts, checks, etc. Moreover, some people also used payment processors. However, after Bitcoin was invented, people adopted Bitcoin and Bitcoin is also used by many major companies to collect payments. This also made Bitcoin popular.

3) Overall Hype

The hype of Bitcoin also made it much popular. When something becomes a hype, people start to adopt it more and more and people begin to adopt it.
 
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