Bitcoin hits a new high again, with a single coin worth $6.38 ≈ 420,000 RMB: Why is it so valuable?

Recently, the price of Bitcoin has continued to rise, setting a new price record: US$63,860 per coin, which is more than 417,000 yuan when converted into RMB.

In 24 hours, Bitcoin fluctuated between $60,000 and $63,800. At such a high point, the transaction volume reached $18.3 billion.
One can't help but wonder, where is the peak of Bitcoin?
Since Bitcoin officially entered the public eye, every surge in Bitcoin's value has made people feel that it has reached its peak. After all, it is just a virtual currency with limited value. But reality has repeatedly slapped us in the face. Bitcoin has been advancing rapidly, breaking records again and again.
Why is Bitcoin so strong and why are more and more people accepting Bitcoin?
This is due to the characteristics of Bitcoin itself.
Bitcoin was born with blockchain technology. The purpose of creating Bitcoin is to create a decentralized currency.
But decentralization has both advantages and disadvantages.
The biggest disadvantage is that without an issuing center, there is no guarantee of trust. The reason why Bitcoin is valuable and can be used to buy things is because of people's trust and acceptance of it. It is not like legal currency, which is backed by the country's credibility. You can go to the store with a piece of RMB and exchange it for goods of equal value at will. But Bitcoin is different. If you want to trade with Bitcoin, both parties need to recognize the value of Bitcoin. At present, when people's acceptance of Bitcoin is so low, Bitcoin transactions are still greatly restricted.
However, the advantage of Bitcoin is also decentralization. Its creation and trading do not need to be determined by a center like legal currency. In other words, no one can control it. Why is this an advantage? Let's take the US dollar as an example. With its own fists, the United States almost coerces the vast majority of global trade to be traded in US dollars. In this way, the scope of use of the US dollar can be said to be global. The advantage of this is that if the United States is short of money, it can increase its wealth by printing money, and because the issuance of the US dollar is almost global, the impact of US dollar inflation is relatively small. In this way, the whole world works for the United States.
It's like, in ancient times when everyone traded with shells, there was a family whose backyard was the beach. Then they could freely spend shells to buy the products they needed. What if the shells circulating outside were worthless? It didn't matter, they could continue to pick up more shells to buy things.
Decentralized Bitcoin was created to prevent this from happening.
When Bitcoin was first created, its total supply was set at just under 21 million, and each Bitcoin can be split into 100 million pieces. This is the total supply of Bitcoin. No one can increase it. Trading with it is fair to everyone. The total supply of 21 million ensures that it will not cause inflation, and the split of 100 million satoshis ensures that there will be no deflation or shortage.
If it can be accepted by the world, it will undoubtedly be of great benefit to global trade, and all countries in the world (except one country) will surely be happy to see it.
But no country dares to recognize it, especially now that Bitcoin is so large. Recognizing Bitcoin is undoubtedly a gamble. And it is a gamble with little chance of success.
Of course, it is not necessarily Bitcoin that can play such a role, but it appeared at the right time and caught everyone's attention.
I'm afraid no one can make a definite conclusion about the future fate of Bitcoin.