Bitcoin is the utmost sizzling subject of the crypto marketplace and is an exceedingly robust version of online cash. Bitcoin has fascinated everyone with its store value. From millennials to bitcoin investors, everyone is now transforming into a bitcoin maxi.
Bitcoin Maximalism refers to preferring bitcoin over any other cryptocurrency. The individual who prefers bitcoin over any other cryptocurrency is bitcoin maxi. Bitcoin is the utmost valuable cryptocurrency ever. However, more than 10000 cryptocurrencies are present in the marketplace.
Moreover, the second leading cryptocurrency, ether, is not having half the market cap of bitcoin. Altcoins or cryptocurrencies other than bitcoin have ample comprehensive application and many advanced technologies in contrast to bitcoin.
Regardless of such facts, bitcoin is the leading cryptocurrency in terms of market and store value. Moreover, there are websites that discuss CFD and how it works which can help you get profitable results in your bitcoin expedition. Here are some of the potential reasons why bitcoin is the most valuable cryptocurrency of all time. So without wasting any further ado, let’s have a glance.
Why does Bitcoin have a Store Value At All?
Bitcoin is merely software underlying some robust technologies then why bitcoin does have a store value at all. Satoshi Nakamoto, the inventor of bitcoin, released bitcoin as an electronic cash system. Every currency which has a store value has four essential features; let’s see if bitcoin correspondingly has these features or not.
These features include scarcity, scalability, divisibility, and utility. Bitcoin is one of the utmost scarcer currencies as the supply of bitcoin is constantly declining. All the more, you can divide bitcoin to its 10th decimal place and the smallest unit of bitcoin, Satoshi.
You can use bitcoin as a payment method in multinational companies and many other businesses. Moreover, bitcoin is scalable as well. So, in a nutshell, bitcoin has all the features of a currency. And these features of bitcoin define why bitcoin has a store value at all.
Why does Bitcoin have the highest store value of all cryptocurrencies?
Everyone is familiar with the fact that bitcoin is the utmost valuable cryptocurrency of all time as bitcoin touched the store value of $65000. Here are some of the robust reasons why bitcoin is the most valuable cryptocurrency of all time.
Bitcoin is Scarcer
Bitcoin is a sizzling cryptocurrency. However, the supply of bitcoin mining is constantly decreasing. The prominent reason behind this is that bitcoin mining is very competitive and challenging; all the more, bitcoin halving is decreasing the block reward of bitcoin mining every four years.
Such progression is leading to the scarcity of bitcoin. Since bitcoin is precious, people are not thinking of selling bitcoin. The fact might amaze you that out of 18.6 million bitcoin units, merely 4 million bitcoin are liquid at the instance. Due to the higher returns of bitcoin, miners are not selling their block reward.
Institutional adoption of bitcoin is much more in contrast to any other cryptocurrency. Several companies and organizations are accepting bitcoin as a payment method. All the more, companies like Micro strategy and tesla motors have invested a considerable amount in bitcoin.
Micro strategy is the leading public holder of bitcoin, and this company has invested almost $3 billion in bitcoin. At the same time, Tesla motors have converted $1.4 billion worth of balance sheet in bitcoin.
Bitcoin is the first-ever cryptocurrency!
The concept of cryptocurrency was present in the marketplace before bitcoin. However, Satoshi Nakamoto implemented cryptocurrency in 2008 and released the first cryptocurrency in 2009.
After the arrival of bitcoin, there were several cryptocurrencies in the marketplace in a nominal range of time. Most of these cryptocurrencies are clones of bitcoin; all the more have the same technology as bitcoin. Almost every altcoin follows the trail of bitcoin in terms of the price chart.
As if bitcoin’s store value inclines, the value of these altcoins also inclines, and if bitcoin inclines the store value of these currencies correspondingly declines. In a nutshell, bitcoin is the first-ever cryptocurrency, and it is the utmost trusted and secured cryptocurrency at the same time.
These are some of the reasons why bitcoin is the most valuable cryptocurrency of all time.