One of its primary functions is serving as a decentralized means of preserving value. In simpler terms, it allows for ownership rights as either a physical asset or a unit of measurement. However, the debate around its function as a store of value continues. Numerous cryptocurrency enthusiasts and economists believe that widespread adoption of the leading currency will usher in a new era of finance where transactions will be denominated in smaller units.
The smallest units of Bitcoin, known as Satoshis (or Sats for short) in honor of the pseudonymous creator, are equivalent to 0.00000001 BTC. At the current price of Bitcoin, 1 Satoshi is roughly valued at $0.00048.
Many consider this top cryptocurrency to be a store of value, much like gold, rather than a traditional currency. This perception has led to the notion of holding onto Bitcoin long-term (or HODLing) instead of using it for everyday purchases, similar to how you would typically spend a dollar. It is seen as a form of digital gold.
