NY Federal Reserve newsletter says:

"the ability to make electronic exchanges without a trusted party—a defining characteristic of Bitcoin—is radically new. Bitcoin is not a new class of money, it is a new type of exchange mechanism, and this type of exchange mechanism can support a variety of forms of money"

It calls it a *type of exchange mechanism*


https://libertystreeteconomics.newyorkfed.org/2020/06/bitcoin-is-not-a-new-type-of-money/


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#bitcoin #mediumofexchange