Saifedean Ammous Says Bitcoin Already Functions as a Medium of Exchange

Saifedean Ammous, author of The Bitcoin Standard, argues that Bitcoin already functions as money even without widespread use for everyday payments. In an October 13 post , Ammous said holding Bitcoin itself constitutes monetary use and rejected the idea that limited payment adoption disproves its monetization. His argument separates money’s store-of-value role from the narrower question of how frequently Bitcoin is spent at merchants. Ammous expects BTC to become less volatile as its market grows, eventually surpassing gold in capitalization while becoming more practical as a medium of exchange. Ammous was responding to economist Lawrence H.

Source: Crypto Economy