[colesantiago]

Not quite:

Bitcoin is backed by greater fools trying to pump the price up and other fools trying to buy into the pyramid scheme.

But seriously it is backed by entirely nothing but speculation.

History will not be kind to Bitcoin and its delusional supporters. It will definitively and inevitably end up on the scrap heap of other failed experiments and bubbles like Tulip Mania and Beanie Babies.

For a more intellectual deconstruction of web3, bitcoin and all other crypto arguments this is a fantastic resource debunking every point on crypto:

https://web3.lifeitself.org/guide#claim-bitcoin-will-and-sho...