Quote from: PrivacyG on Today at 06:52:47 PM

Quote from: pooya87 on January 28, 2025, 05:10:24 AM

Bitcoin is not an asset, Bitcoin is money and the definition of money is a currency (ie. a medium of exchange) that can be used as store of value.

But this is a contradictory statement. Money is an asset and if Bitcoin is Money and can also be used to store value, it fits right into the description of an asset.

In the very beginning of economy classes, assets are explained to be tangible or intangible. Bitcoin is an intangible asset. It even fits the definition given by IFRS. Genuine question out of curiosity, can you explain why you believe it is ignorant to call Bitcoin an asset?

I am wondering why other people say that bitcoin is not an asset or what's their reasons for saying bitcoin is not an asset. I am one of those people who say that bitcoin is an asset since bitcoin does have value because if bitcoin is not an asset then bitcoin shouldn't have any value at all and as stated above that bitcoin is money therefore it is an asset and also bitcoin can be converted to cash. According to the search result, an asset is a resource with a value that can be changed to cash which is very much the same as bitcoin.