This week we discussed Bitcoin Economics. For this week’s research paper, you need to search the Internet and explain why some businesses are accepting and other businesses are rejecting the use of Bitcoins as a standard form of currency. Your paper needs to identify two major companies that have adopted Bitcoin technology.

Your paper should meet the following requirements:

• Be approximately 3-5 pages in length, not including the required cover page and reference page.

• Follow APA guidelines. Your paper should include an introduction, a body with fully developed content, and a conclusion.

• Support your response with the readings from the course and at least five peer-reviewed articles or scholarly journals to support your positions, claims, and observations. The UC Library is a great place to find resources.

• Be clear with well-written, concise, using excellent grammar and style techniques. You are being graded in part on the quality of your writing.

Answer preview

In research analysis, economists have published various reasons why business corporations use bitcoins as a formal currency. According to Ammous (2018), there are five primary unchangeable reasons as to why businesses opt to adopt the use of Bitcoin currency. These reasons include the store of value, maximum security, individual sovereignty, a global unit of account, and finally, an international and online settlement unit. Store of value is the primary reason why companies choose Bitcoins, which means it can be purchased at a lower cost and sold at a higher value depending on the market. Business corporates have adopted this mechanism because they use bitcoin currency as a standard form of investment. Bitcoin can overcome all the currencies across the globe; hence it gives companies to invest in easily as part of storing valued assets.

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