Why is Bitcoin called “store of value”?

I've first heard about Bitcoin around 8-9 years ago. Since then it's price skyrocketed, thousands of new cryptocurriences emerged and died.

Since concerns about it's transaction value, cost of mining and so on raised, many people still try to defend it saying that it is digital gold, good for store of value.

My question is: what exactly makes it a better mean of store of value than ETH, DOT or any other legit cryptocurrency? Isn't it all just some kind of wishful thinking about the crypto that was just first and nothing more? Why are we supposed to store our money in BTC instead of any other crypto? Is there literally anything that distinguishes it?

Of course I'm still enthusiast of crypto, but I think I can see flaws of many projects and notice the fact that many of them actually don't solve any problem. And I feel like BTC in tens of years might be doomed – as it provides little utility when compared to other crypto and all it's "storage of value" is only backuped by the money invested, that could might as well flow to other, more profitable/promising projects.

submitted by /u/Luxusowy
[link] [comments]

Leave a Reply

Your email address will not be published. Required fields are marked *