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Bitcoin is a digital asset designed to work in peer-to-peer transactions as a currency. Bitcoins have three qualities useful in a currency, according to The Economist in January 2015: they are hard to earn, limited in supply and easy to verify. Per some researchers, as of 2015, bitcoin functions more as a payment system than as a currency.
Economists define money as serving the following three purposes: a store of value, a medium of exchange, and a unit of account. According to The Economist in 2014, bitcoin functions best as a medium of exchange. However, this is debated, and a 2018 assessment by The Economist stated that cryptocurrencies met none of these three criteria. Yale economist Robert J. Shiller writes that bitcoin has potential as a unit of account for measuring the relative value of goods, as with Chile's Unidad de Fomento, but that Bitcoin will solve any sensible economic problem.
The Winklevoss twins have purchased bitcoin. In 2013, The Washington Post reported a claim that they owned 1% of all the bitcoins in existence at the time.

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