An Economist Assessment on the Value of Bitcoin


Sometimes the easiest questions have the hardest of the answer. The economist as part of their job profile has to face a lot of these conundrums as they deal with the law of demand and supply and always try to predict the future movement of asset that trades on the financial markets. The value of bitcoin has seen a lot of tumbles up and down from the time of the introduction way back in 2016. The value of bitcoin saw an upswing in terms of prices and volumes traded in the exchange of nearly a rise of 150 percent which at the start of the month was USD 3890 a piece to USD 10383 in less than nine months. The jury is divided on the issue of the value of bitcoin as an asset and is it worth investing money and reaping out gain from the asset. For many retail investors as well as bitcoin professionals the recent spike in terms of prices has motivated and encouraged them to buy the bitcoin story though the other half is sceptical about the gain this venture will produce.

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To understand the divide on the issue of the value of Bitcoin it will be helpful if a review of the literature is done at the start. As given an stated by Investopedia article containing the value of bitcoin to the intellectual advisers from leading financial experts to hedge fund managers have focused the value of bitcoin on the three main traditional forms of money. What most economists have failed to understand is that bitcoin is not fully-fledged money rather bitcoin should be understood as a new form of asset class which can be used as an alternate of money and has some features of money. The value of bitcoin can be best being captured and made to use in complex data transaction and data exchange.

Source: Forbes

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