Elon Musk can move the market with a single tweet.
It is bits of data moving on a blockchain network, according to a finely tuned system of rules.
But over time, a huge number of systems that were never designed to be connected to the internet have been layered over the top of it.
Back in 95, the fist creator of digital currency – a guy called David Chaum – presented at US Congressional hearings about what the future of money should look like.
The Silk Road, and other dark web marketplaces after it, drove major early use of Bitcoin and created a media storm around it.
And any time a government-run currency has been mismanaged, it’s also generated a lot of press for Bitcoin, and driven Bitcoin adoption.
And as long as people use Bitcoin, this will keep going – like a self-fulfilling prophecy – until we hit the 21million limit.
And today, the most meaningful thing we can measure about Bitcoin is that it’s still here, when over 1000 other coin brands have failed.
If you have a look at the Twitter space, you will see all these people making wonderful arguments as to why you should buy, why you should hodl, why you should never sell.
So, we might say, I know that Bitcoin is valuable.