Bitcoin is important because it provides a way for people to transact with each other without the need for intermediaries. This means that people can send and receive money without having to go through banks or other financial institutions. Bitcoin is also a way for people to protect their wealth from inflation and other economic uncertainties.

Recent banking collapses have shown the deficiencies and weaknesses of the current fiat system. For example, the recent crashes of three U.S. lenders — Signature Bank (more like forced closure), Silicon Valley Bank and Silvergate Bank — has slashed confidence in the US banking system. The debacles have also put depositors into panic and global markets into chaos as the U.S. government scrambled to prevent the fire from spreading to other banks

In addition, Bitcoin is a way for people to take control of their own financial future. With Bitcoin, people can be their own bank and have complete control over their money. Bitcoin is ethical money. This is especially important in countries where the government has a history of seizing assets or where the financial system is unstable.