I am asking the question because if I purchase #btc now as an example, it says as of this writing that 1 BTC = $66k. I am curious, who gets to decide how much is #btc? I believe or a group much have decided this is the value of btc to a dollar so you can purchase it. Therefore, I ask how did one or a group came up with the number?
Discussion
Same as stock market or price of gold or oil/gas.
Nobody decides. The market decides.
The exchanges calculate what buyers are willing to pay, and that becomes the price. Same as groceries at the store.
But soon everything will be priced in Bitcoin, even dollars will be priced in Bitcoin.
ty for taking the time to explain this. Now it makes sense! have a good one ☺️👌