Description: Well, apparently the Colonel will now take Bitcoin in Canada for KFC’s new Bitcoin Bucket. On January 11 KFC tweeted “Sure, we don’t know exactly what Bitcoins are, or how they work, but that shouldn’t come between you and some finger lickin’ good chicken.” It’s a rather amusing story to accompany all the media attention around the recent bubble-like rise of the alternate currency Bitcoin.
Date: January 12, 2018
1) Have you ever purchased any Bitcoin? What did you use it for?
2) What forces do you think are driving the recent rise in the value of Bitcoin?
3) Wiley’s Financial Accounting: Tools for Business Decision-Making has an interesting “Accounting Matters” discussion on page 367. Read the section and discuss with your classmates whether or not Bitcoin is cash.