# Why Bitcoin? *there are not many!* By [Crypto Craton](https://paragraph.com/@cryptocraton) · 2024-02-03 --- As part of a series of posts on basics of Bitcoin and Crypto currencies i have written this. **Why Bitcoin?** Only when you are open to listen and observe various financial opportunities will you get to know its merits and demerits. The reason I want to highlight the usefulness of Bitcoin before you know what bitcoin is, unless you feel interested you wouldn’t try to know Bitcoin and get a little more deeper insights into this. **Bitcoin as Global Currency:-** It’s the age of the digital world. Every single person on the earth can connect to everybody else through the internet. There will be a need for a single neutral global currency which is not controlled by any single nation. That’s needed for transactions between 2 entities in the connected world. Majority of the population across the globe has adopted Bitcoin already. **Bitcoin is Digital Gold:** BTC is being compared with Gold as both have similarities. Like gold has a limited amount of reserves on earth, Bitcoin also has a limited supply of 21 million bitcoins. Long before gold was widely adopted across the globe, only a limited number of people had gold. As the population across the globe started  valuing gold and buying it demand increased, as the demand outnumbered the supply gold price increased over time.           Likewise at present Bitcoin is not widely adopted and it’s in its initial stages. As a large portion of the population start adopting Bitcoin as the supply is limited and demand sores, as a result price increases in coming days. Internet connectivity across the globe will only fast track the adoption of Bitcoin and it takes less time than Gold to reach its full potential. **Bitcoin is not Inflationary:-** Fiat currency(Dollar, Rupee) are inflationary. Fiat currencies are managed by central banks of respective countries. If the government wants to print more currency they can just print it without a valid reason. Thereby the value of money which is already in circulation decreases. If the inflation is 8% per year, Suppose you have $100,000 with you, its value decreases by 8% next year. I.e. buying power of $100,000 decreases by 8%. There can be a maximum of only 21 million Bitcoins of which close to 19 Millions in circulation now. Value of Bitcoin keeps increasing as adoption grows. **No single authority can control Bitcoin:-** No single government authority can control Bitcoin. It resides on a decentralized network. If it’s physical gold or any other currency, it can be confiscated, controlled. For e.g. in 1933 the American government passed an executive order to ban storing Gold, confiscate it if it's held illegally.. In 2016 Indian Government demonetized Rs500, Rs1000 currency bills. Much of its value will be lost if you don’t obey the government orders. That cannot happen with Bitcoin. These bitcoins will be stored in a decentralized network in an encrypted format which cannot be confiscated. If a government wants to ban Bitcoin, its entire network spread across the globe has to be shut down which is nearly impossible. In 2018 China banned Bitcoin and Crypto, but they are still doing fairly well without China. **Bitcoin is Easy to store and Transact:-** Bitcoin can be stored in a digital wallet which can be accessed using a smartphone. Public Key i.e. your public address on Bitcoin network can be shared to anyone if you want to receive from anybody across the globe. You can access this wallet using your own secure private key i.e. password to access bitcoin account to send the BTC to anybody across the globe.  If 1BTC is valued at $40,000. You can pay/transfer a smaller amount of BTC for e.g 0.0001 within no time. **Early Investors get great returns:-** The value of 1bitcoin was $4 in 2013, now it's $40,000 in April 2022. 1000 times increase in its value. There is a prediction that the value of 1BTC will reach $10,00000 by 2030. If you invest early you will gain good. _Disclaimer:-The information provided on this website/newsletter does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. This website/newsletter does not recommend that any bitcoin/cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions._ --- *Originally published on [Crypto Craton](https://paragraph.com/@cryptocraton/why-bitcoin)*