Is It An Asset of Value Like a DaVinci or Gold?No, it is digital code (“bits”) which is transferred from one owner’s computer to another.
Bitcoins, like all currencies, are not backed by any tangible asset of value. Like dollars, euros and pounds, bitcoin is “fiat money” established by a government or other entity as a means to facilitate trading in goods and services (the word fiat is derived from the Latin, “let it be done”).
Currency Exchange Rates Need StabilityConsumers rely on collective trust in agreeing to exchange one currency for another.
Who Would Trust Bitcoins Rather Than U.S. Dollars or Gold?1. People who have no faith in the ability of central banks to avoid hyper-inflation.
2. People who need to transact in secret, avoiding the ability of all governments to monitor them.
Source:
https://www.investopedia.com/advisor-network/articles/bitcoin-what-you-need-know/