Why is Bitcoin’s price at an all-time high? And how is its value determined?

Bitcoin continues to trade close to its all-time high reached this month. Its price is now around US $34,000 — up about 77% over the past month and 305% over the past year.

First launched in 2009 as a digital currency, Bitcoin was for a while used as digital money on the fringes of the economy.

It has since become mainstream. Today, it’s used almost exclusively as a kind of “digital gold”. That is to say, a scarce digital asset.

In response to the risk of economic collapse…


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