Bitcoin lacks a solid foundation as an international currency

The writer is associate professor at the Research Institute of Industrial Economics

The value of bitcoin and other cryptocurrencies has multiplied in the last decade. Non-existent returns on fixed-income securities and the fear of future inflation when central banks let the money printing press run at full tilt have led investors to seek alternatives. Many have invested in cryptocurrencies. There is also a superstition that they will take over as an international means of…


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