why did bitcoin hit on the gas
Simple btc is directly correlated with the stock market 'the S&P 500'.
also, It has zero cash flow and it fails to meet the essential functions of a currency:
1. A means of exchange: It is innately deflationary, causing people to hold onto it rather than spend it, expecting its value to rise.
2. A store of value: Its extreme volatility fluctuating by 20% to 30% renders it an unreliable option for storing value.
3. A unit of account: We rely on central bank currencies to measure the value of goods and services, not Bitcoin. It simply does not work as a unit of account.
also, It has zero cash flow and it fails to meet the essential functions of a currency:
1. A means of exchange: It is innately deflationary, causing people to hold onto it rather than spend it, expecting its value to rise.
2. A store of value: Its extreme volatility fluctuating by 20% to 30% renders it an unreliable option for storing value.
3. A unit of account: We rely on central bank currencies to measure the value of goods and services, not Bitcoin. It simply does not work as a unit of account.
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