Economist Dr. Rachel Park argues that cryptocurrency cannot replace traditional currency because it fails as both a store of value and medium of exchange.
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readingWhich economic data would best support Park's failure claim?
A
Bitcoin's 50,000% value fluctuations make it unsuitable for savings or pricing goods; meanwhile fewer than 0.1% of transactions use crypto, and merchants accepting it typically convert immediately to stable currency
B
Many cryptocurrencies exist
C
Some people invest in crypto
D
Blockchain technology is innovative
Correct Answer: A
Choice A is the best answer. Volatility proves not store of value; low adoption + instant conversion proves not exchange medium.
💡 Strategy: "Fails as X and Y" claims need evidence of failure on both dimensions.