With the emergence of Bitcoin billionaires, Bitcoin has become a hot topic of every business-related conversation. Everyone is talking about how to invest in Bitcoin, Bitcoin blockchain, and the profitability of it all. If you were not familiar with the term Bitcoin, then “digital currency” or “cryptocurrency” might ring some bells. It is a means of transitioning online with an unbelievable privacy, not common in the regular transactions.
Over the years, there has been a lot of work in developing the resources of blockchain and cryptocurrency investing apps, which gave rise to people investing in it all. Among the people that have invested in cryptocurrency are bigger names like Ashton Kutcher, DJ Khaled, Paris Hilton, and Mike Tyson to name a few. This greatly explains why you can find people discussing the genius of blockchain and why so many people assume many people have already hoped the Bitcoin investment and blockchain bandwagon.
However, there are only 5% of US populations investing in Bitcoin. This statistic gives rise to the question of why Bitcoin value is the highest of all cryptocurrencies. The answer to this straightforward question isn’t as straightforward. In this article we’ll explain the main reasons for its high valuation among all cryptocurrency.
Why Bitcoin Value Is the Highest of All Cryptocurrencies
- The Oldest Cryptocurrency
BTC or Bitcoins is the single most used digital currency that has successfully held the attention of the public, even with all the cryptocurrencies floating around in the lightning network. Founded in 2009, many people consider btc to usd to be the original digital currency. Bitcoin ushered in a new era of decentralized digital currencies and blockchain technology. With the popularity Bitcoin attracted, many imitators and forks came into existence, yet still BTC retained its number one spot in the cryptocurrency by significant market cap and other metrics.
- Market Leader
Bitcoin enjoys with its constant popularity, the position of the market leader. Bitcoin now commands 70% of the total cryptocurrency market. The company closet to Bitcoin’s market cap is Pfizer, with a market capitalization of $194 Billion.
- Strong Infrastructure
The infrastructure of assets class of Bitcoin and the ecosystem itself only got stronger and stronger with increased security. Endowments like MIT, Harvard and Yale, and Bitcoin derivates form NASDAQ and Bakkt have been a very encouraging facet to ponder over. Apart from these, many qualified custodians and quality talent have moved into the Bitcoin space. The inflow of capital is facilitated by the investor protection, liquidity and compliance, and strictly regulated over-the-counter (CTC) exchanges.
- People’s Trust
Bitcoin offers a unique private setting for all the transactions happening over the network. Bitcoin is decentralized network with a transparent set of rules. This exceptional network presents an alternative to central bank-controlled fiat money.
People trust Bitcoin more as compared to other cryptocurrencies available as of today because of its strong infrastructure, and its position as the market leader. New technological advancement in the BTC market has paved the way for Bitcoin ATM Cards. This means that Bitcoin is accepted more and more among various institutes of the world, causing a high demand. People buy other cryptocurrencies only to convert it into Bitcoins.