Currency, or money in general, is typically defined as having three main functions which are as a medium of exchange, a unit of account, and a store of value. There are two competing views in the literature on whether BitCoin fulfils the three criteria of a currency as a medium of exchange, a unit of account, and a store of value. One part of the literature argues that BitCoin does not behave as a real currency, but rather resembles speculative investments (Velde, (2013) ; Hanley…
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