Why is Bitcoin a commodity

Bitcoin is known as a type of cryptocurrency because it uses cryptography to keep it secure. There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to (although each record is encrypted).

Why is there a tangible value behind cryptocurrency? – Quora. The majority of cryptocurrecy is mined. The tangible part is how much electricity is needed to mine one coin of a given coin . For example at this stage to mine one bitcoin today is close to 5000 dollars in electricity, maybe a bit more.

Bitcoin is not tangible . However, there are “physical” bitcoins, but they are novelties. Cryptocurrencies are not tangible.12 Nis 2019