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Seeking Alpha 2021-06-18 13:09:17

Bitcoin: As A Currency, Where Does It Derive Its Value From?

After Bitcoin as a medium of transaction and store of value argument, Bitcoin as a currency argument is gaining traction.Cathie Wood’s analyst recently wrote that Bitcoin’s market cap could increase to $2 trillion if it were to capture just 5% of the global monetary base outside of the four.To analyze this argument, one needs to understand where Bitcoin is deriving its value from as a currency.One also needs to analyze the impact adopting Bitcoin as a currency has on the residents of the country adopting it.

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