Is Bitcoin Money?

Ask an Economist
Question: 

Is bitcoin meet the definition of money? if so How?

Answer: 

Money refers to any asset that is widely used and accepted as a form of payment. It must be a medium of exchange, a unit of account, and a store of value (assets like stocks, bonds are all stores of value meaning they can be traded for goods at a future date). Bitcoin, by this definition, is money.

Last updated on May 12, 2016