Bitcoin can be exchanged for currencies in most countries

Bitcoin can be used to cash out and can be converted into the currencies of most countries. Users can use Bitcoin to purchase virtual items, such as clothes, hats, equipment, etc. in online games. As long as someone accepts it, Bitcoin can also be used to purchase items in real life.

Bitcoin surged 7% on Tuesday as Greek residents began buying up bitcoin amid concerns that the country could exit the eurozone, putting it on track for its longest bull run in nearly 18 months.

Joshua Scigala, co-founder of bitcoin custody site Vaultoro.com, said Greeks' confidence in the government is waning and they have begun buying bitcoin, a digital currency. If Greece leaves the eurozone, it is unclear which alternative currency the country will use, which has become a major factor driving Greeks to hoard bitcoin. Joshua Scigala said: "Some people will not wait for the government to find a solution, they will prepare for themselves."

Previously, the price of Bitcoin had been extremely volatile, but it has gradually stabilized in the past six months, and more and more financial institutions have begun to regard Bitcoin as a legal asset. On Tuesday, on the Bitstamp trading platform, Bitcoin rose to $252.05, reaching its highest point in more than two months, and continued to rise for six consecutive trading days, the best performance since January 2014.

Paul Gordon, founder of Bitcoin company Quantave and board member of the UK Digital Currency Association, believes that the concern about Greece's exit from the eurozone may boost Bitcoin prices, and more and more people are beginning to understand Bitcoin. Paul Gordon said: "As people from all walks of life are worried that Greece will exit the eurozone, Bitcoin provides another way out for those who are worried about capital control."

Some believe that Greece could introduce a digital currency based on assets or future tax revenues as a parallel currency to the euro, following the lead of Bitcoin.

The concept of Bitcoin was first proposed by Satoshi Nakamoto in 2009. The open source software designed and released based on Satoshi Nakamoto's ideas and the P2P network built on it are Bitcoin is a P2P digital currency. Peer-to-peer transmission means a decentralized payment system.