It’s also the most popular cryptocurrency, with a market cap of around $1.2 trillion — making up nearly half of the $2.8 trillion crypto market, as a whole.
While the majority of sellers don’t currently accept cryptocurrency as a form of payment, those that do are more likely to accept Bitcoin than its lesser-known competitors.
Many critics have voiced their concerns over Bitcoin’s energy consumption, and the cryptocurrency may need to find a way to reduce its energy usage to stay competitive over time.
Also, although Bitcoin is currently the most popular cryptocurrency, it faces some stiff competition.
While its price may be on the upswing right now, there’s no telling whether another downturn is around the corner.
Keep in mind, too, that making millions of dollars with Bitcoin is an unrealistic goal.
If Bitcoin performs well over the long run, you could make a considerable amount of money.
Bitcoin has been on a wild ride this year, and its supporters believe it could be headed even higher.