"Crypto-Assets And Money"

Published in Hong Kong Monetary Authority on 2018-09-21, "Crypto-Assets And Money" declared Bitcoin dead or fundamentally doomed. The piece argued that Bitcoin failed as a functional currency due to extreme price volatility, slow transaction speeds, and limited merchant acceptance. Bitcoin was trading at $6,753 at the time of publication. Bitcoin crashed more than 80% from its late 2017 peak, with critics pointing to the burst of the speculative bubble.