Bitcoin: Future or Fad?

Tut, D. (2022). Bitcoin: Future or Fad?. In: Walker, T., Davis, F., Schwartz, T. (eds) Big Data in Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-12240-8_8

36 Pages Posted: 25 Jul 2022 Last revised: 7 Nov 2022

See all articles by Daniel Tut

Daniel Tut

Toronto Metropolitan University- Ted Rogers School of Management

Date Written: March 20, 2022

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 events such as wars. Bitcoin's long-term survivability and viability as an asset will largely depend on its diversification role, institutional adoption, tax treatment and regulations.

Keywords: Bitcoin, Cryptocurrency, Blockchain technology, smart contracts, digital assets, NFTs, Payment Systems, Money, stablecoins, non-fungible, ethereum

JEL Classification: G30, G32, E51, E58, G28

Suggested Citation

Tut, Daniel, Bitcoin: Future or Fad? (March 20, 2022). Tut, D. (2022). Bitcoin: Future or Fad?. In: Walker, T., Davis, F., Schwartz, T. (eds) Big Data in Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-12240-8_8, Available at SSRN: https://ssrn.com/abstract=4168188

Daniel Tut (Contact Author)

Toronto Metropolitan University- Ted Rogers School of Management ( email )

55 Dundas St. W
Toronto, Ontario M5G 2C3
Canada

HOME PAGE: http://sites.google.com/view/danieltut/home

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