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respond to this discussion The WSJ article discusses Bitcoin, highlighting its surge in popularity and value, making it an appealing investment. Bitcoin serves as a
respond to this discussion "The WSJ article discusses Bitcoin, highlighting its surge in popularity and value, making it an appealing investment. Bitcoin serves as a medium of exchange through its peer-to-peer trading system, but its extreme price volatility and limited merchant acceptance hamper its everyday use. The cryptocurrency's impact on monetary systems and policies is highlighted, offering individuals more financial control but also challenging traditional monetary authorities. Bitcoin's alignment with the textbook's functions of money is explored, showing strengths as a medium of exchange but weaknesses as a unit of account and store of value due to price fluctuations. The use of cryptocurrency could change how monetary policy and money supply are managed, bringing both benefits such as decentralization and risks like market volatility, requiring careful consideration by policymakers and investors
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