Bitcoin uses tons of electricity to create each coin. This energy use, called “ProofofWork,” makes Bitcoin super strong and hard to change, like a digital energy receipt. This makes it a great way for people worldwide to send money, especially when their local money is shaky. It helps them avoid high fees and changing money values, giving them a steady way to store wealth. This new type of money is built on physics, not politics, making it a powerful tool for those who need it most.
Bitcoin’s value has skyrocketed to over $72,000, thanks to legislative changes and events that have made it easier for traditional investors to integrate Bitcoin into their portfolios. The recent endorsement of Bitcoin ETFs by US regulators and the Financial Conduct Authority in the UK has propelled cryptocurrency into the mainstream, leading to an influx of $10 billion in Bitcoin ETFs in the US. The increasing interest from institutional investors and the upcoming halving event in Bitcoin mining are also contributing factors to its current trajectory. However, investors are advised to be cautious as Bitcoin remains highly volatile.
