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US Congress Think Tank Claims Bitcoin Is Used Mostly as ‘Investment Vehicle’

Published 05/29/2019, 08:36 AM
Updated 05/29/2019, 08:42 AM
US Congress Think Tank Claims Bitcoin Is Used Mostly as ‘Investment Vehicle’
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Bitcoin (BTC) and cryptocurrencies are used as a speculative investment tool and not money, a report by United States think tank the Congressional Research Service (CRS) claimed on May 10.

As part of an investigation into cash usage in the U.S., the report, dubbed “The Potential Decline of Cash Usage and Related Implications,” appears to forecast a reduction in paper money as contactless card payments increase.

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