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Is Bitcoin a Commodity?
When Bitcoin first appeared in 2009, it was introduced as a “peer-to-peer electronic cash system.” With time, the world began to see it differently. Today, governments, regulators, and investors are still asking the same question. Is Bitcoin a commodity, a currency, or something entirely new? To answer this, it’s important to look at how commodities are defined conventionally, how Bitcoin compares, and how regulators across the globe classify it. In finance, a commodity is a basic good that can be exchanged for another of the same kind without a difference in value. Gold, silver, crude oil, wheat, and coffee ... (full story)