Bitcoin A Store of Value or a Medium of Exchange

Article by Greg Mathers  * March 1, 2018

Bitcoin has taken the world by storm but there is a controversy over what Bitcoin should be. Some people believe it should be a store of value like gold and silver. Other people want it to be a medium of exchange like the US dollar, Paypal, or perhaps debit cards. At this time more people are using Bitcoin as a store of value. How can you blame them since it has risen from under $1000 early in 2017 to over $9000 today. It is hard to justify spending currency today when it might be worth a lot more tomorrow. The people that bought and held Bitcoins are called “Hodlers”. They have seen tremendous gains in the last year and there is the possibility of more gains to come.

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Bitcoin is the first, most secure, open access, permissionless, borderless, anti-fragile and most decentralized cryptocurrency. No wonder it is valued so much more and has a larger network effect than any of the other cryptocurrencies today.

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