Daily Crypto Deep Dive: Who Decided Gold Was Valuable — And Could Bitcoin Be Next?

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Who actually decides what anything is worth?

Why is gold valuable? Why was the humble pineapple once worth a small fortune and rented out as a symbol of extraordinary wealth? Why can a painting sell for $100 million, while another one is worth almost nothing? And why is Bitcoin worth anything at all?

In today's Daily Crypto Deep Dive, we explore the strange relationship between scarcity, demand, trust, status and human psychology.

We look at how gold became valuable without any single king, government or civilisation deciding it should be. We examine how the pineapple went from one of the ultimate status symbols of the wealthy to an ordinary supermarket fruit once technology and mass production destroyed its scarcity.

Then we ask the biggest question of all: could the same thing ever happen to Bitcoin?

Bitcoin has a maximum supply of 21 million coins, but scarcity alone does not guarantee value. Thousands of cryptocurrencies are scarce. Most are worth very little. So what makes Bitcoin different, and what actually has to happen for something to retain value for decades, centuries or even thousands of years?

Gold is the ancient proof. The pineapple is the warning. Bitcoin is the experiment.

We will see you at the top.