What value does Bitcoin have? Let’s begin with some people who know cryptocurrencies in their own ways.If you ignore the histrionics, Elon Musk, the geek-turned-billionaire tycoon, can very well be considered a supporter of cryptocurrencies. On the other hand, Paul Krugman, the celebrated Nobel-winning economist, doesn’t like cryptocurrencies. There’s enough literature about Musk and his adventures with cryptocurrencies. But Krugman made his
Synopsis
There’s much confusion around whether Bitcoin is a ‘currency’ or an ‘asset’. But that often leaves out the most important aspect, which says that it is a network technology at the same time. So, when most currencies are backed by governments, Bitcoin is backed by its network. And this may answer questions on its value.
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