Seeking Alpha
2022-08-15 19:29:07

Bitcoin: Let's Put The Utility Argument To Bed

Bitcoin is already a currency, with adoption increasing every day.The question is: Can BTC become more than a currency?The expansion of Bitcoin's ecosystem will lead to a new economic paradigm.Bitcoin won't only appreciate in value, it will also give those who hold it access to a growing ecosystem.Thesis SummaryBitcoin (BTC-USD) is described by many as a speculative asset with no practical use. However, there is plenty of evidence to the contrary. Bitcoin is already a currency, and it has the right ingredients to be a store of value. On top of that, there are many other ways in which Bitcoin is adding value and many more that will arise in the future, thanks to the robust ecosystem being built on the lightning network.What many don't seem to understand, is that Bitcoin is a living and growing system, with over 50 years of rich history. Our understanding of Bitcoin has to be dynamic, which is why it is so important to appreciate the latest developments that are happening in Bitcoin.Bitcoin is not just a currency anymore, but an asset that gives you access to a growing ecosystem.Bitcoin: A Rich And Unknown HistoryWhen Bitcoin first started, it was nothing but an interesting technology. Engineers and those with the necessary programming skills could easily mine this digital currency, which traded for pennies. Bitcoin was nothing but a fun novelty.Though Bitcoin, as we know it today, came into existence in 2008, there is a rich pr...

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