Question

imagine you held one bitcoin that had increased in value from $30,000 to $40,000 in the span of a year. this would mean that your money holdings would have increased by $10,000. is this statement true or false?

Answer 1

The statement about the money holdings of a person being increased by $100,000 is:

• False, because the bitcoin is an investment and not a money holding.

What is Money Holdings?

This refers to the assets which are held in cash and ready to be used.

Hence, we note that there are 3 functions of money which includes functioning as:

• A store of value
• Unit of account
• Medium of exchange.

With this, we can state that the statement is false because the bitcoin is an investment and not a money holding.

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