Bitcoin As A Commodity

The Securities and Exchange Commission has issued years ago a statement that it regards Bitcoin as a commodity.

According to Wolfteam Ltd.’s corporate view what the Securities and Exchange Commission meant was that Bitcoin is an energy commodity. Mining Bitcoin does consume huge amounts of energy.

Wolfteam Ltd.’s view is that Bitcoin is more a currency in the sense that it stores value, accounts for units and is a means of exchange or the characteristics of money. Bitcoin, Ethereum, Litecoin also function as good transfer of payment means.

What the Securities and Exchange Commission tried to do by more narrowly defining Bitcoin as a commodity is to find a way not to outlaw Bitcoin is Wolfteam Ltd.’s view. Since money printing or creation is only a prerogative of central banks.

But if Bitcoin is allowed to exist, this serves the greater good is Wolfteam Ltd.’s and my personal view.