Reports indicate that more than 650 million people worldwide currently have access to Bitcoin, turning this digital currency gradually from a store of value asset into a medium of exchange. Initially created as a ‘peer-to-peer digital cash,’ Bitcoin is now recognized as ‘digital gold.’ A report by Breez on Bitcoin scalability reveals that Bitcoin is shifting back towards digital money. This shift is made possible by Lightning technology, which provides faster and cheaper payment options for Bitcoin transactions. The Lightning network, a layer two solution for quicker and cost-effective payments, serves as the backbone for Bitcoin payments in this resurgence. This technology has enabled over 650 million people worldwide to access Bitcoin. With Lightning, Bitcoin has transformed back into a means for exchange and found various applications, such as microtransactions and digital content purchases. The report mentions platforms like Binance and Coinbase, which have played a crucial role in expanding Bitcoin access by attracting a large customer base. In developing countries with unstable financial systems, Bitcoin is recognized as a stable and reliable financial tool. It is now being used in remittance systems, allowing individuals to easily send amounts to other countries. Unlike stablecoins, which are known as digital currencies with fixed value, Bitcoin, due to its independence from fiat currencies, cannot lose its value but rather depends on global decentralized consensus. In this regard, the report highlights that stablecoins are simply digital representations of non-native internet assets, such as the US dollar. Ultimately, the report emphasizes that Bitcoin is now a stable and usable currency, not only as an asset for investment but also for everyday purchases and global payments. On the real-time digital currency price page, you can view the live and momentary prices of all tokens and cryptocurrencies.
