Bitcoin’s Price Breaks All-Time High: Here’s Why It Happened
Here is the easiest way I can explain it:<p>Bitcoin is a social phenomena - no government or company backs it. The only reason it has value is if people value it. Bitcoin promoters have convinced people it&#x27;s a store of value, like gold except digital. As the Cult of Bitcoin spreads, it doesn&#x27;t take that many new enthusiasts to push the price up, as unlike literally all other commodities on earth, the supply of bitcoin is truly constrained and there cannot be anymore made in response to demand above the normal rate of inflation.<p>This time, big money, institutions, and the very rich are coming in addition to the widespread purchase by retail. The price is going to rise a lot.