Two things make bit coins. One, computers calculating. Two, the energy to power those calculations. The larger the number they are calculating the more energy it takes. Energy is their primary expense. It will always follow the cost of electricity. Bit coin is a fossil fuel currency just like the USD. Though you can at least argue bit coins have a tangible cost. But at the end of the day, it's still backed by nothing. It's still fiat currency. There's a reason the deep state is globally pushing digital currencies. In order to create appeal, you manipulate it to create a bubble. When ready, they can destroy everyone's "hedge."