Could bitcoin be alternative currency? an economic assessment

In the historical process, money has taken different forms in line with changing needs and technological innovations. Cryptocurrencies, the last form of money in recent years, have entered our lives with Bitcoin. Bitcoin is a digital currency that uses encryption techniques and can function without the need for the control of a central authority. Interest in Bitcoin, which has emerged as a new monetary tool as a result of technological advances and is thought to be an alternative to fiat currencies, is increasing. In this study, whether Bitcoin will transform into an alternative currency to existing currencies is examined in terms of the traditional functions of money. In this context, the extent to which Bitcoin can provide the functions of money is evaluated by considering its basic features and technological infrastructure. Theoretically, although Bitcoin has the potential to be an exchange tool, it is concluded that it is not preferred as an alternative currency or a medium of exchange. In addition, it is understood that Bitcoin has the potential to be claimed as a store of value.