Refer to the article "From Barter to Bitcoin" in your Money, Money, Money magazine for a complete version of this text. Based on the information in "From Barter to Bitcoin," one can conclude that the cost of bitcoin makes it unlikely to be a form of currency used by young people any time soon. Which detail from the text best supports this conclusion? "Buyers and sellers use it to make transactions online." "Bitcoin is the most widely used cryptocurrency today." "In mid-2018, one bitcoin was worth \( \$ 6,100 \)." "It first appeared in 2009."
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The detail that best supports the conclusion is, "In mid-2018, one bitcoin was worth \( \$ 6,100 \)." This high price point suggests that for many young people, who often have limited financial resources, the cost of entry to using bitcoin as a currency is prohibitive, making it unlikely for them to adopt it for everyday transactions anytime soon. Additionally, if we consider the broader implications of this conclusion, the fluctuating value of cryptocurrencies can also create a sense of uncertainty. Young people, typically more focused on budgeting and saving, may prefer stable currencies that can be relied upon for daily purchases rather than risk investing in a virtual currency that can change dramatically overnight.