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Bitcoin: Future or Fad?

Tut, Daniel (2022): Bitcoin: Future or Fad? Forthcoming in: Big Data in Finance: Opportunities and Challenges of Financial Digitalization Palgrave Macmillan No. Book Chapter (2022)

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Abstract

Is Bitcoin the payment system of the future? This chapter argues that Bitcoin is neither a currency nor gold, but that it is a tradable asset and an alternative form of investment. Bitcoin also exhibits some features as an investment asset that are similar to collectibles. The true value of Bitcoin lies not in its speculative nature but in the embedded technology which has the long-term potential of revolutionizing traditional finance. Blockchain technology can provide solutions to Big Data challenges and provide an off-ramp during political uncertainty. Bitcoin’s long-term survivability and viability as an asset will largely depend on its diversification role, institutional adoption, tax treatment and regulations.

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