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The cryptocurrency, Bitcoin has experienced a lot of fluctuation/volatility in prices. In 2020 alone, the price of Bitcoin was as low as $5000 and as
The cryptocurrency, Bitcoin has experienced a lot of fluctuation/volatility in prices. In 2020 alone, the price of Bitcoin was as low as $5000 and as high as $18,000. Given this,
A. | Bitcoin would fit the definition of money, as it holds its value over time. | |
B. | Bitcoin would fit the definition of money, as it would be widely accepted as a standard of deferred payment. | |
C. | Bitcoin would fit the definition of money, as it works well as a unit of account. | |
D. | while it is a speculative asset, it does not perform the functions of money |
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