Bitcoin is on course to become a formal currency

It is not a formal currency, but bitcoin has gained ground in the financial market and among entrepreneurs. Its value has grown and its uses too, however, there is still no certainty about its role within the economy in the future.

In recent months the price of bitcoin has skyrocketed and its use has diversified. Everything seems to indicate that it could become a real currency, but for some it is a simple financial instrument. The debate on its future continues to occupy analysts.

"It is still far from being a currency, far from meeting the requirements normally attributed to currencies, although its trajectory has been impressive," explained the economics expert at the Universidad Complutense de Madrid, Pedro Dura, in an interview for CNN . The virtual currency is still an attractive investment and also risky, because it is not yet a currency: "Bitcoin fulfills some functions that are tribute to money, with others, definitely not."

The role of the medium of exchange is another requirement to be considered as currency, and in that sense, the virtual currency is growing "spectacularly" in establishments that admit it as a form of payment, but the percentage is still very low: "Even if it is a medium Generally accepted for payment, is still far from being, but is on the way. "

Another limitation to become a currency is that it does not have the recognition of financial institutions, it can circumvent controls and that implies risks. According to Dura, it is possible that the states narrow the siege to the regulation of virtual currencies, "is the normal thing".

It is worth mentioning that there are other virtual currencies that have also grown in recent times. That means that you still do not know what can happen with these forms of money or if they will become real coins.