Here is What’s Behind Bitcoin’s Success, According to Crypto Expert

Economist Fred Krueger recently discussed Bitcoin's achievements as the cryptocurrency celebrated its 16th anniversary, and explained why he believes BTC has succeeded where other digital currencies have failed.

According to Krueger, Bitcoin’s success lies in its simple, autonomous structure. Unlike projects like Solana, Cardano and Ethereum, Bitcoin operates without a centralized group of founders to control updates. Although adjustments are happening, the expert stressed that Bitcoin has no formal governing body, which he sees as a strength that promotes its neutrality and adaptability compared to other blockchains.

Krueger highlighted Bitcoin’s flat start, noting that when it launched anyone could mine from day one, and its creator Satoshi Nakamoto did not claim any initial tokens. According to him, this open start sets the digital asset apart from other cryptocurrencies that rely on pre-mining or early token allocation.

He also pointed to Bitcoin’s resistance to censorship as one of its key characteristics, stating that BTC transactions remain largely unstoppable globally.

While some transactions may be tracked or exit routes restricted, Bitcoin transactions consistently operate across borders, highlighting its role as an open financial network.

Despite the complex technology, Krueger argues that Bitcoin’s appeal lies in its simplicity. The basic process of transferring BTC has remained unchanged for 16 years, with blocks mined every 10 minutes and halving occurring every four years. He praised this stability, attributing Bitcoin’s success to its clean, simple design and minimal database.

The expert cited the concept of first-mover advantage from the book ” Positioning”, suggesting that early establishment of product-market fit has helped the cryptocurrency maintain its dominant position in the space.