Is Bitcoin Money or a Property ?

Mike Elgan talks with Andrew Greenberg of Forbes.com about whether or not Bitcoin can legally be considered currency.
Bitcoin is a currency, despite what the IRS try to say. Go by this rule of thumb: if the U.S. government is against it, you know it’s good.






If Bitcoin is treated as a capital asset – or a form of investment like stock – then capital gains rules would apply to any gains or losses as a result of the market. Those rates are generally pretty favorable to taxpayers. In 2014, capital gains rates for those in the 10% and 15% federal income tax brackets pay 0% on long-term capital gains and those in the 25%, 28%, 33%, and 35% brackets pay 15% on long-term capital gains. Taxpayers at the top – those in the 39.6% tax bracket pay 20% on long-term capital gains.