Bitcoin is both a blockchain-based store-of-value which can also be used as a currency for the transaction of goods and services. It’s used as a store-of-value, like gold, because it’s a scarce asset. Less than 21 million Bitcoin can ever exist that costs money and time to extract with mining technology.

It’s used as a currency, however, it’s been criticised for its relatively slow speeds and high transaction fees. New technologies like lighting network helps make Bitcoin near instantaneous and free to use, however, it’s still in development and roll out phase.

Bitcoin mining difficulty is doubling in May 2020 (decreasing from 12.5 BTC per block down to 6.25 BTC per block) which will possibly take the price to new great heights as opposed to FIAT value.