ECO FNC 214 CSI Money and Capital Market Essay
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Homework Assignment 1
Due date: February 9, 2023
Note: Write your answer on a computer word processor program (e.g. MS Word, Open
Office, Google Docs), and submit through email.
1. (50 points)
At the beginning of the last year, the price of a Bitcoin was below $1,000. It hit
$5,000 in October, then doubled by late November. And on Thursday, less than two
weeks later, the price of a single Bitcoin rose above $20,000 on some
exchanges, according to Coinmarketcap. The latest price spike has been credited to
signs that Wall Street companies plan on bringing their financial heft into the
market. At the current cost, the value of all Bitcoin in circulation is about $300
billion. To get a sense of how big that is, all the shares of Goldman Sachs are worth
about $90 billion. (Source: ©tcoinàPrice Has Soared. What Comes Next? y
Nathaniel Popper, NY Times, DEC. 7, 2017)
Question:
Are those cryptocurrencies (e.g. bitcoin, ethereum, dogecoin etc.) money? Why? Why
not? Justify your answer with evidences from clearly stated sources.
2. (50 points)
Introduce yourself and explain why you decide to invest your time and money for
studying at CSI.
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