Moreover, Bitcoin is believed to be a hedge against inflation and economic stability as such, it is best seen as a store of value. Some companies are already adopting Bitcoin as a payment method – hence strengthening its value. There has also been an increasing institutional interest in Bitcoin – attracting businesses and hedge funds to enter the market to trade this asset. Its resilience amid the price tank and positive market outlook has made it one of the most sought-after cryptocurrencies among investors. Bitcoin is the pioneer cryptocurrency that charted the course for decentralized finance (DeFi).