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NYDIG

Why Are People Buying Bitcoin

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Why Are People Buying Bitcoin

There are millions of people out there using Bitcoin right now. But why? To answer this, we need to look back at the financial crisis of 2008. People wanted a new kind of money. One that ran on the internet and could not be inflated or manipulated by governments, corporations or individuals. Bitcoin was born. Since then, hundreds of billions of dollars have flowed into it. Because, unlike government-made money, which can be printed whenever the government wants more, there will never be more than 21 million Bitcoins created. That's it. And as the first cryptocurrency, Bitcoin has the longest track record and is the most widely held. So much so, that even big and risk adverse institutions, like insurance companies and pension funds, are also getting in. Plus, with no middle men to add layers of processes and fees, Bitcoin... There's more. While Bitcoin has been used for larger purchases like cars, it has powerful potential to be used for smaller transactions like a cup of coffee.

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