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“Bitcoin is not money, it’s barter,” says Central Bank of Mexico

Bitcoin is not money, it’s barter,” says Central Bank of Mexico

According to Alejandro Diaz, president of Mexico’s central bank, Bitcoin is not real money but is more like a means of barter.

Whoever receives Bitcoin in exchange for a good or service, we believe that transaction is more akin to bartering because that person is exchanging a good for a good, but nor really money for a good,” Diaz said.

“Bitcoin has more characteristics of a precious metal than a legal tender,” he added.

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  1. tldr; According to Alejandro Diaz, the President of Mexico’s Central Bank, Bitcoin is not real money but is more like a means of barter. “Bitcoin has more characteristics of a precious metal than a legal tender,” Diaz said. He added that Bitcoin is also not a reliable store of value.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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