[heading]Germany Recognizes Bitcoin As “Private Money”[/heading]
Is Bitcoin legitimate? Is Bitcoin illegitimate? This is something for individuals to decide, not countries. But, what does it mean that country’s are adapting to decentralized currencies, and what effectiveness will they show in the long term? Only time will tell.
Bitcoin’s legitimacy continues to be asserted as yet another government has gone so far as to give the decentralized virtual currency “private money” status.
Germany has recognized Bitcoin for legal and tax purposes, meaning it is the first country to take an official stance on the status of using the online currency as money.