Bitcoin: The Economic Value of a Cryptocurrency

Broker of Oeuvre

By Antonio Prieto

Bitcoin. Since it’s anonymous and cryptic dark web birth in 2009, it has shaken up the global economy. Launching a whole new genre of tech ventures (including peer-to-peer lending firms and payment systems), Bitcoin has established itself as a solid peg under the global economy. But is it just a fluke?

 

A prominent and well-known “feature” of Bitcoin is it’s unstable and constantly fluctuating price. With a sub-zero USD price until mid-2012, Bitcoin took off in 2013 reaching ~$1150/bitcoin by November 2013. Unfortunately, this price slipped over the next year and by November 2014, the price had fallen to $400. According to Coinbase, the price currently sits at $236 (May 21st, 2015). With such a clear and prominent downhill trend for Bitcoin, many prospective investors are left questioning the integrity and economic value something like Bitcoin and cryptocurrencies have. To fully comprehend the value of Bitcoin…

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