-I think It is popular. many people accept and trade in Bitcoin because It is recognized and accepted as a currency by many.
-Bitcoin is decentralized and limited. This is a major factor for many Bitcoin users. Bitcoin is hard for governments to trace and tax
-Bitcoin acts like an equity investment. The market value of Bitcoins has had wild swings in value and even a market cap.
-Bitcoin is a social network. The Bitcoin "community" is active and acts like other online social networks.
-There are only 21 million bits so it has the same value as gold.
In 2014, Alstyne published an article reviewing several factors that cause bitcoin to have value [3]. The first thing about Bitcoin's ability is to keep someone from spending the same money over and over again. for systems running without central use, the method used by Bitcoin is brilliant. Bitcoin is able to transform the Internet from a data transfer system into a value transfer system. the second factor is the very low cost of Bitcoin transaction even close to 0, giving more benefit to the users when compared to credit card transaction cost which reach 5% of total money spent. The third factor is the ease of detecting fraud in the system. as there is a lot of credit card information and inappropriate credit card theft, in the Bitcoin system it is hard to do and will be instantly detected. The last factor is that people believe that Bitcoin has a value