Too Long; Didn't Read
Why are people buying bitcoin and cryptocurrency? One may think that bitcoin is just a bubble that has no value at all, and other cryptocurrencies are just scams. This accusation may be correct in some way, but do not forget that it is human who determines the value of a good or service. For example, people think that a $2,000 Louis Vuitton bag is justifiable because they think the design or quality is superior. Same goes to Bitcoin. People believe it’s unique offering worth $9,000 per bitcoin (as of this writing). Bitcoin is immensely useful and has never been seen before in a way. Regardless, here goes the three factors for investing in Bitcoin: utility, scarcity, and demand.