Over the past couple of weeks, Bitcoin has been receiving an increase in media attention. It has been mentioned regularly by FOX news, NBC, CNBC and in magazines such as Time Magazine and the New York Times.
This can be mainly attributed to the crypto-currency’s increase in price. Bitcoin price has sky-rocketed and extrapolation of its growth shows that it will continue to increase till the momentous 2040. Moreover, the increase media attention should only increase the already amazing price. This is because of the demand and supply paradox. Furthermore, I believe further online shops and even ‘physical’ shops would begin introducing Bitcoin, because of the spotlight that the media is shining on it. However, what could this media attention in terms of taxes and the governments? Will governments feel threatened by Bitcoin growth? Will they intervene? If Bitcoin becomes widely accepted, perhaps if it overtakes fiat, can the government find some way to enforce taxes?