There’s an ongoing discussion about the role of Bitcoin that divides people into two camps: those who consider Bitcoin to be a currency and those who consider it to be an asset. The outcome of the discussion has an impact on its price, its correlation to the stock market (where other assets are traded) and government regulations. It is my view that although Bitcoin exhibits all the characteristics of a currency, it is mostly used like an asset (a risky one). But this role might change over time as Bitcoin will likely transition from being treated like an asset to being used like a currency. How do I know that? Because I witnessed the same transition of the US dollar in Venezuela.
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