A buyer makes use of a bitcoin automated teller machine (ATM) in a kiosk Barcelona, Spain, on Tuesday, Feb. 23, 2021.
Angel Garcia | Bloomberg | Getty Photos
Bitcoin was initially created to be like digital money, but it surely’s real-world use case has developed since its inception. Greater than something, buyers are shopping for it now as a speculative funding.
The value was sitting at $37,100 as of Friday afternoon and has been struggling to rebound to its Might highs after Tesla CEO Elon Musk started transferring crypto markets, sending bitcoin decrease. The cryptocurrency is the most important by market cap, which is $693 billion as of Friday, based on Coin Metrics.
Traditionally, bitcoin’s demand has been pushed largely by retail buyers, however that narrative modified late final yr as huge buyers and establishments started reconsidering their positions on it. Bitcoin has all the time and continues to endure from reputational points which can be laborious for it to shake, largely due to its newness and due to this fact the dearth of information or historical past to help its raison d’être.
In the event you’ve gotten caught within the confusion and misinformation round bitcoin, listed below are the important thing issues to concentrate on if you happen to’re contemplating bitcoin in your portfolio.