Which of the following represents a possible benefit of using a cryptocurrency like Bitcoin as a reserve currency?
A) It is not fiat money.
B) Its value is backed by gold.
C) It is highly centralized.
D) It is volatile.

Question

Quizplus · Accepted Answer

One possible benefit of using a cryptocurrency like Bitcoin as a reserve currency is that it is not fiat money, meaning it is not backed by a government's credit or a central bank's authority. This could potentially make it more resistant to inflation and government manipulation. However, Bitcoin's volatility and lack of widespread acceptance currently limit its potential as a reserve currency.

Which of the Following Represents a Possible Benefit of Using