Bitcoin is the world’s first ever experiment on Blockchain invented by Satoshi Nakamoto and it is the highest valued precious resource/digital asset on the cryptocurrency list. The price and value of a Bitcoin is derived by:-
. Global adoption
. A cap on the number that is ever going to be produced, making it a scarce and valuable precious resource like precious metal Gold
. Free market demand and supply
. Its high intrinsic value due to the built-in payment network system, which is very useful in the modern internet based economy.
Bitcoin is on the ‘Throne’ of the Digital Assets Class and Store of Value and has paved the way for many more alternative crypto-currencies (ALTCOINS) following its legacy system.