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Bitcoin Economics

April 18, 2024 • Posted in Currency Trading, Gold

What are the implications of mainstream economics for bitcoin? In his March 2024 paper entitled “Bitcoin: What Does Mainstream Economics Have to Say?”, Joshua Hendrickson tackles the following questions:

  1. Why does money exist and what role does it play in society? How does bitcoin fit our understanding of this role?
  2. What is bitcoin worth?
  3. Is bitcoin (or can bitcoin be) a sound form of money?
  4. Should governments adopt bitcoin?

His goal is to decipher how economics (not any particular economist) answer these questions. Applying mainstream economic theory, he concludes that: (more…)

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