IS BITCOIN A CURRENCY OR AN ASSET?
INTRODUCTION: With the disruptive effect of FinTech and new forms of technology on the capital markets, the ongoing 'war on cash' and the development of new so-called 'asset classes'; this article shall aim to address the reality of the most popular cryptocurrency today- Bitcoin. Below, I provide a brief insight as regards to what Bitcoin actually is especially given that the question as to whether it is a 'currency' or an 'asset' has caused considerable confusion to date. ORIGINS Bitcoin is the most popular of what has become known as decentralised digital "cryptocurrencies" [1] . As a cryptocurrency, it uses cryptography to control its creation and management rather than relying on a central authority (e.g. the Bank of England). It differs from other virtual currencies such as those created by Nike, Vodafone, Amazon and those that are often used in the computer gaming industry for so called "in-game purchases" as, unlike Bi...