Quote from: Sayeds56 on Today at 09:40:31 AM

Quote from: PytagoraZ on June 20, 2023, 03:01:33 PM

Bitcoin - Asset Or Currency?

Bitcoin is a currency or an asset, it has been a topic of debate since many years. Ultimately, it depends on how you perceive it based on your perspective. However, it is largely seen as serving both purposes, as it can be used to buy goods and services like any fiat currency, fluctuates like fiat currencies and commodities. Simultaneously it is considered a store of value and hedge against inflation. In summary the classification of Bitcoin can differ across jurisdiction and the context in which it is being discussed.

It can be said that bitcoin is a versatile tool, it can be a currency, an asset, a bank for ourselves… it all depends on how we use it, there is no specific concept about bitcoin. Besides many people using gold as a store of value, there are also some who view gold as jewelry that makes them more glamorous. No one is wrong in this case.

But given bitcoin's volatility, is it suitable for a store of value? I don't think bitcoin is suitable as a store of value, gold would be more suitable for this role. The value of bitcoin is very volatile, using bitcoin to store assets or save is not appropriate and too risky.