A very interesting argument I've read is that the value of bitcoin is it's volatility. Meaning that you can trade billions on it's ups and downs, and make prof

A very interesting argument I've read is that the value of bitcoin is it's volatility. Meaning that you can trade billions on it's ups and downs, and make profit this way. Anything that can generate profit is valuable. Notice how the big exchanges, Binance, FTX are worth tens of billions of dollars, and their owners are deca-billionaires, thus kind of proving this thesis, because exchanges are first in the line to extract profit from volatility through transaction commissions. TL;DR: bitcoin is backed by it's crazy volatility