Who ever said Bitcoin was make-believe Internet money? The digital currency, as it were, is now considered to be legal tender in Germany. A report from Progress.org indicated that Bitcoin has been deemed to be a “unit of account” by the German Finance Ministry.
Frank Schaeffler of the German Parliament Finance Committee said, “We should have competition in the production of money. I have long been a proponent of Friedrich August von Hayek scheme to denationalize money. Bitcoins are a first step in this direction.”
“A free country should resist and not intervene in citizen’s private choice of money. In my opinion the production of money is none of the government’s business,” he continued.
This certainly is a noteworthy milestone for Bitcoin, which has struggled to be taken seriously by business and government alike.