Transaction cost of Bitcoin is high (approximately $22 today). This makes small transactions uneconomical.Some have argued that because Bitcoin can not support small transactions, that it loses its utility. Some thing that does not have utility or real world applications, has no value.Bitcoin disentivizes spending leads to people spending less of it. This would lead to increase in prices. As prices and market cap goes up, it becomes viable for institutions and large investors to allocate capital there.Today, we can convert Bitcoin into essentially any other cyptocurrency. That is not true of other currencies. It is not far fetch to say that Bitcoin could be used to buy big ticket items, invest in companies, or to convert “daily use” token.
