Bitcoin is becoming more accepted as a form of payment on the internet and the number of retailers accepting Bitcoin are growing. The term “Bitcoin Currency” returns content on Google with 3,300,000 exact match results.
The debate over whether Bitcoin is a currency still goes on. The nature of digital currency is speculative in nature. Bitcoin has had wild price fluctuations that make the price volatile. By accepting it as a form of payment the merchant would take on that price risk.
Being one of the best performing assets in the last decade, if you invested $1000 in Bitcoin 10 years ago you would have about $2,646,404. The supply cap on the digital currency is 21 million in contrast to fiat currencies that have no perceived limit.
Price targets for Bitcoin are over $100,000 for the Digital Gold. Bitcoin has outperformed Gold and the S&P 500 in recent years.
In the future whether the digital currency can stabilize is yet to be seen. Stablecoins have less volatility similar to traditional currency. Bitcoin will always see volatile trading in the crypto markets making it an asset to speculate on, currency or not.