Why Bitcoin's Value Keeps Going Up

Bitcoin's value has been rising for years. This is because it's hard to get and lots of people want it. A crypto expert, Willy Woo, explained this idea. He said Bitcoin is scarce because there's not much of it compared to how many people want it. Woo talked about this on a social media post. He disagreed with someone who said Bitcoin isn't scarce, just finite. Woo said Bitcoin's price going up from almost nothing to over $100, 000 shows it's scarce. This is because more people want it over time. The debate about Bitcoin's scarcity isn't new. Some people say other cryptocurrencies like Ethereum and Solana are also scarce. This is because they have a fixed supply, just like Bitcoin. But their scarcity depends on demand, like Bitcoin's does. Bitcoin has a limit of 21 million coins. It also has events called halving, where the rate of new coins being made decreases. This makes Bitcoin even scarcer over time. Some people argue that other blockchains can make coins with a fixed supply. But others say fixed supply only works well if the network is decentralized. This means no single person or group controls it. At the time of writing, Bitcoin's price was around $91, 203. It had gone up a bit in the last 24 hours.