# Professor David Yermack reacts to a court decision in Florida in connection with bitcoin

1 Faculty News July 27, 2016 ![Mashable Logo](/sites/default/files/styles/246w/public/assets/images/con_042582.jpg?itok=3Q5K3Qua)>

Excerpt from [Mashable](http://mashable.com/2016/07/27/bitcoin-currency-florida-judge/#zKYTGB7Kkiq7) -- "'The decision said bitcoin is not an object with tangible value. That's clearly wrong,' said [David Yermack](http://www.stern.nyu.edu/faculty/bio/david-yermack), chair of the finance department at the New York University Stern School of Business, where he teaches the course 'Bitcoin and Cryptocurrencies.'"

[Read more](http://mashable.com/2016/07/27/bitcoin-currency-florida-judge/#zKYTGB7Kkiq7)