# In an op-ed, Prof. David Yermack outlines Bitcoin's flaws

1 Faculty News February 18, 2014 ![](/sites/default/files/styles/246w/public/assets/images/con_031606.jpg?itok=1xJUhJ6A)>

Excerpt from [MIT Technology Review](http://www.technologyreview.com/view/524666/bitcoin-lacks-the-properties-of-a-real-currency/) -- "Money is supposed to serve three purposes: it functions as a medium of exchange, a unit of account, and a store of value. Bitcoin arguably satisfies the first criterion, because a growing number of merchants accept it as payment. But it performs poorly as a unit of account and a store of value."

[Read more](http://www.technologyreview.com/view/524666/bitcoin-lacks-the-properties-of-a-real-currency/)