While many are optimistic about the disruption virtual currencies such as Bitcoin will have upon fiat currencies, new research from the SWIFT Institute says that will likely not the be the case.
According to the paper, “Virtual Currencies: Media of Exchange or Speculative Assets?” SWIFT used a “theoretical model to analyze the dynamic relationship of virtual currency with fiat currency”. They found through their research and analysis that bitcoin’s main purpose is as a speculative investment, rather than a medium of exchange...
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