Digital Currencies Don't Have Value?

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27 Jan 2024
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Value is a subjective idea; one person, group, or culture may value a thing that another discards. For example, Bitcoin, the first cryptocurrency, was worth a thousandth of a penny immediately after its debut in 2009. Its popularity grew, and by 2021, it had reached $69,000 per bitcoin. Its growth in value indicates that how an asset is perceived by a society is vital in determining its worth.

Ethereum, the blockchain ecosystem that supports the ether (ETH) cryptocurrency, serves as the foundation for non-fungible tokens, decentralized financial applications, and other technical developments in digital asset ownership.

ETH may not have the same economic worth as Bitcoin, but its usefulness and potential make it considerably more valuable to a firm building financial goods and services based on the Ethereum blockchain and smart contracts.
Cryptocurrencies are now being held by investors and businesses for a variety of purposes, including finance, investment, and venture capital. For example, Galaxy Digital Holdings is a financial service and investment business with over $2.0 billion in crypto (digital) assets under management as of July 2022.

Cryptocurrency dollar values appear to change in response to consumer and investor attitudes, supply, demand, and economic conditions, as do many other assets or currencies. 


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