AS Paper 1, June 2022Introduction to Markets and Market Failure
AS Paper 1, June 2022, Q3(b)
Explain how Bitcoin fulfils one function of money, apart from as a medium of exchange.
Short answerExplain3 marks
Context
The world’s first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Bitcoins are divisible into smaller units known as satoshis.