As the Executive Director of the Canadian Blockchain Consortium and a long-time entrepreneur in the cryptocurrency space, I’m often asked why Bitcoin is booming and what makes it such an excellent investment. Banks, billionaires and ordinary people are buying it in droves. With bitcoin’s price hitting a new all-time high of USD 60K, I’m fielding these questions more than ever.
I admit that I sometimes struggle with an answer – unless they have a few hours – because it’s not a simple subject. It took me years to fully understand that a confluence of technological uniqueness, culture, factors and decisions made by global political leaders explains the rationale behind Bitcoin’s popularity as a store of value.