Bitcoin is a digital store of value. There are markets and exchanges in the world where Bitcoin could be traded with fiat currencies such as the US Dollar (USD) or the EURO. What makes Bitcoin special is that it could be digitally sent to people, regardless of where they are in the world. This makes Bitcoin a global currency, and it takes the same amount of time to send Bitcoin to your next door neighbor as it takes to send it to China.

On top of this, Bitcoin is decentralized. This means there is no key governing authority for Bitcoin. Unlike Visa Card or Western Union transactions, Bitcoin does not have a single entity that governs it. Central authorities are a point of weakness as they have so much power and they “can’t be evil”.