What Backs Bitcoin?
Bitcoin doesn't need to be backed by anything tangible to be valuable; like fiat currencies, much of its value derives from consumer confidence.
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on DecryptRelated market context
Why Bitcoin’s Next Soft Fork Could Feel Like a Practice Run
Bitcoin developers look set to address four flaws in Bitcoin’s consensus rules that have lingered for years. Issues like quantum r...
Judge Lets Stock Perpetual Futures Keep Trading but Says CFTC Likely Overstepped Its Authority
Bitcoin Magazine Judge Lets Stock Perpetual Futures Keep Trading but Says CFTC Likely Overstepped Its Authority Stock perpetual fu...
Riot (RIOT) and Hut 8 (HUT) Sell Thousands of Bitcoin to Fund AI Ventures, Share Buybacks
Bitcoin Magazine Riot (RIOT) and Hut 8 (HUT) Sell Thousands of Bitcoin to Fund AI Ventures, Share Buybacks Two of the largest publ...
ChatGPT AI Predicts: Will Crypto Recover? How Low Could We Go?
Bitcoin (BTC) is near $77,000 and Ethereum (ETH) nears $2,260, about $1,342 below where ETH USD price was a year ago. Bitcoin’s pe...
Strategy’s STRC Hits $100 Par for First Time Since May After Over $2 Billion in Buybacks
Bitcoin Magazine Strategy’s STRC Hits $100 Par for First Time Since May After Over $2 Billion in Buybacks Strategy’s Stretch prefe...
TD Cowen: Democratic Sweep Makes a Crypto-Backed CLARITY Act ‘Impossible’
Bitcoin Magazine TD Cowen: Democratic Sweep Makes a Crypto-Backed CLARITY Act ‘Impossible’ The Democratic sweep of Congress closes...