Something went wrong on our end. Please go back and fred ehrsam bitcoin price again or go to Amazon’s home page. Facebook destroyed international competition, and Airbnb and Microsoft all succeeded due to network effects.
Open source examples like Ethernet survive to this day due to network effects. In the crypto world, Bitcoin is perceived as slow to change, clunky technologically, and as having bad governance. While all these things may be true, Bitcoin has strong network effects that will maintain its status as the primary value store in the short to medium term. It is always possible Ethereum or another newer protocol will take over the value store use case in 5 to 10 years, but network effects decrease its likelihood in the short term. User, fund and investor adoption.
With millions of people now holding bitcoin, there is incentive for a large sub population to spread adoption. 1 billion in market cap holding bitcoin alone. Bitcoin as the “reserve currency”. Bitcoin is listed by all the major exchanges, which in concert with its large userbase creates large scale market liquidity. This liquidity has caused additional large institutional investor to dip their toes into the crypto waters buy buying in and accelerating further liquidity.