AUSTIN, TX – All of us know what money looks like, right? It’s green and shiny and we love to have it (well except pennies, who needs those, right?!) But have you ever heard of a Bitcoin?
A Bitcoin is digital currency that was invented in 2009 as a way for business people to transfer money without having to use an actual financial institution like a bank. So it begs the question, are Bitcoins real money?
Texas Judge Amos Mazzant recently had a ruling in a Bitcoin-related fraud case, and he says it is money. The defendant, Trendon Shavers was accused by the SEC of committing fraud in the form of a Bitcoin ponzi scheme worth millions.
Shavers tried getting the case thrown out of court, saying Bitcoin isn’t real money.
Now this is just one ruling, but it could change the game for Bitcoins and what they really mean.