The price of bitcoin soared from around $9,000 in January 2020 to an astounding $40,000 in January 2021. It is currently around $32,000. Naturally, many are left scratching their heads. Why has the price of bitcoin fluctuated so much over the last year? Why does it remain so valuable today? Dr. Luther considers the fundamental value of bitcoin—and various factors affecting it.
The Free Market Institute hosted William J. Luther to present a public lecture on February 4, 2021, on the economics of bitcoin.