Why Bitcoin uses UTXO model?

Why Bitcoin uses UTXO model?

I know what it means. But I can't understand why Bitcoin decided to make such a model, where you have no balance, only unspent transaction outputs. And isn't the same thing as having the balance? I assume if you didn't spend coins, you have them in balance. What advantage does it have over a usual (non-UTXO) model? With comparison with other cryptocurrencies which has no UTXO, if possible, please.

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