Bitcoin is barter, not money, Mexico central bank chief says

MEXICO CITY – Bitcoin is more like a means of barter than “evolved” fiat money, Mexico’s central back chief said on Thursday, calling it a high-risk investment and a poor store of value.

Bank of Mexico Governor Alejandro Diaz de Leon’s comments suggest Mexico will not be following El Salvador any time soon in adopting the digital currency as parallel legal tender.

“Whoever receives bitcoin in exchange for a good or service, we believe that (transaction) is more akin to bartering because that person is exchanging a good for a good, but not really money for a good,” said Diaz de Leon.