Initially, Bitcoin was created as an alternative method of decentralized payment. At that time there were only bank transfers as an alternative, so it’s understandable why virtually everyone liked “the digital gold.” Bitcoin was inexpensive, transfers were instant and straight, and this eliminated the risk of additional fees.
Then international transfers began to develop, together with stronger regulation of cryptocurrency. Bitcoin's popularity has fallen again.
Why is Bitcoin needed now?
First, in some countries, “the digital gold” is still a convenient and cheap way to transfer money.
Second, large retailers began to accept cryptocurrencies as a payment method. Although reports show that the demand for this feature is low.
Third, many people feel more comfortable saving part of their funds in BTC. By the way, this is quite a trend - the first cryptocurrency has become an investment asset. Traders, institutional investors, and small investors won quite a lot by investing in BTC before the price increase.
Yes, some still use BTC for money laundering. But this is hardly rational: every transaction in the BTC network is transparent and traceable. By the way, this is also a good guarantee for those who have chosen “the digital gold” as an investment tool.