Bitcoin is a distributed feat currency with a proven limited supply (20M coins max) and slow and expensive transactions. At present, bitcoin cannot be coopted by any central bank and cannot be inflated by a "printing press". These two facts make it attractive to people willing to park their conventional feat currencies that are being debased by actions of governments and central banks. People do not realize how much worthless money in the world are chasing limited investment or speculative opportunities. Bitcoin seems to be as good or better than anything else.