Abstract
Virtual money or electronic money is generally a new concept in the financial world. The paper deals with the difference between virtual money and fiat money. Also attempted to interpret the theoretical properties of virtual money by taking into account of bitcoin as a case study. As concerned with bitcoin, the primary motive for holding it was basically speculative demand, i.e. to make profit out of fluctuation in value. The current setbacks on bitcoin need not be considered as an end to the future prospects of virtual money. More or less, it has a universal character in unbinding the boundaries of central authority since it is not under the control of any government agency.
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