Most of us have dismissed Bitcoin for years—it's a scam, has no intrinsic value, criminals only use it, can't handle enough transactions, is too volatile, and uses too much energy. The real innovation is blockchain, not Bitcoin. And yet, Bitcoin continues to gain traction. Understanding Bitcoin is as much about knowing the history of money as it is about new technology and the current macroeconomic landscape. Develop a framework to evaluate Bitcoin as a monetary asset and potential investment or hedge for the future.