Description: Bitcoin, perhaps the most widely known of the crypto-currencies, has been all over the map in terms of value, with many highs and lows over its relatively short life. But in recent days Bitcoin has been soaring in value, rising over $11,000 per unit last week. Despite this possible bubble, central bankers are providing reassurances that the amount of Bitcoin available is too small to endanger economic stability, should there be a sudden crash.
Date: November 29, 2017
1) On page 367 of Wiley’s Financial Accounting: Tools for Business Decision-Making, you will see a short discussion titled What is Cash? Do you think Bitcoin should be accounted for as cash on a company’s statement of financial position?
2) Why do you think Bitcoin is soaring so high these days?
3) Would you be interested in investing in Bitcoin is you had a few thousand?