Will Bitcoin Ever Become a Useful Currency?
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Glancing at headlines in recent months might have you believing you woke up in 2021 again. Cryptocurrency fanaticism is rising as expeditiously as crypto prices are, and it appears another bull market is here. But despite the surge in prices, investors and skeptics alike still wonder about the usefulness of crypto.
Bitcoin, as usual, is leading this year's crypto bull run. The world’s most ubiquitous digital currency broke its all-time high in March, reaching an eye-popping price of $73,750. This success can largely be attributed to two factors: The Securities & Exchange Commission’s approval of bitcoin ETFs in January, and the upcoming bitcoin halving event, which will artificially constrict the creation of new bitcoin. Investors are hoping this event will help further propel prices.
But as successful as the asset class has been in 2024, there’s one thing holding some people back from embracing crypto adoption: practical utility. In a time when a single bitcoin trades for more money than a brand new BMW, you still can’t actually use it to pay for things.
Is bitcoin actually money?
