When it comes to Bitcoin, there is a lot of debate as to whether it is a currency or a stock. While there are some similarities between the two, there are also some key differences.
Here is a look at the pros and cons of each to help you decide which one Bitcoin is.
A currency is something that is used to buy goods and services. A stock, on the other hand, is something that represents an ownership stake in a company. When you buy a stock, you are buying a piece of the company that can be sold for a profit later down the line.
With Bitcoin, you can use it to buy goods and services just like any other currency. However, you can also trade it on an exchange just like a stock. So, what is Bitcoin? Is it a currency or a stock?.
The answer is both. Bitcoin is considered a commodity by the IRS and is taxed as such.
However, because it can be used as a currency, it is also considered one by many people. Ultimately, whether you consider Bitcoin a currency or a stock depends on how you plan to use it.