What Is Bitcoin Backed By?

Hint: The correct answer is not ‘nothing’

Jason Deane
Jan 29, 2020 · 9 min read
Photo by Aleksi Räisä on Unsplash

One of the most common comments made by people when I am presenting or writing about Bitcoin is the ‘but-it’s-backed-by-nothing’ position.

On the face of it, it seems like a fair comment. After all, there’s nothing physical about Bitcoin that we can point to and nothing that it is obviously linked or pegged to.