If Bitcoin is “money,” why is it valued in U. S. Dollars?
“If Bitcoin is “money,” why is it valued in U. S. Dollars?”
Where do you get bitcoin tied to US dollar?
According to monetary historians, the sequence or stages of monetization of an item proceeds as follows:
1. Collectible item
2. Store of value
3. Medium of exchange
4. Unit of account.
Bitcoin is still developing, in Stage 2.
Everything in the world has a dollar price or an exchange rate, even other currencies.
“If Bitcoin is “money,” why is it valued in U. S. Dollars?”
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.[1][2][3] The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.[4][5] Any item or verifiable record that fulfils these functions can be considered as money.