Bitcoin (BTC) is the world’s largest cryptocurrency, with a total supply cap of 21 million tokens and roughly 20 million currently minted. The upcoming 2024 halving event is expected to support higher prices by reducing new supply. Spot Bitcoin ETFs now hold around 6% of Bitcoin’s total market capitalization.

Cryptocurrencies like Bitcoin are valued based on investor perception of future demand. While some view Bitcoin as a hedge, its fundamentals, including scarcity and network metrics, suggest long-term growth potential. Bitcoin’s 2024 halving and limited token supply support a resilient network and potential for higher prices.

Bitcoin’s scarcity is a key factor in its value, with only 1 million tokens left to be minted over time. Despite concerns about centralization in mining companies, Bitcoin’s network has remained stable. The upcoming halving in 2024 is expected to drive higher prices and maintain the network’s integrity in the face of diminishing returns.

Institutional demand through spot ETFs tracking Bitcoin directly has become a significant driver of investor interest. Holding Bitcoin directly or through ETFs in cold storage is preferred by asset managers seeking exposure to alternative assets. Institutional adoption through spot ETFs, currently at around 6% of Bitcoin’s market capitalization, could continue to drive demand.

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Read more at Yahoo Finance: 3 Reasons Why Bitcoin Looks Like a Buy After Its Recent 25% Dip