Fitch Law Partners LLP
Excellence in Complex Litigation
617-542-5542

Business Litigation: February 2018 Archives

Bitcoin: What's its Worth in Court?

The price of Bitcoin has recently skyrocketed, rising from $1200 per Bitcoin in the second quarter of 2017 to $ 10,000 per Bitcoin in 2018. However, the law has not kept pace: critical questions remain regarding how Bitcoin should be valued. For example, if Bitcoin is fraudulently transferred, how should damages be calculated? In February 2016, in the first case of its kind, the U.S. Bankruptcy Court for the Northern District of California held that, for the purpose of the fraudulent transfer provisions of the U.S. bankruptcy code, Bitcoins are not the equivalent of United States dollars. However, the court left open whether Bitcoin should be valued as a currency or a commodity.

Contact Us

Fitch Law Partners LLP
1 Beacon Street
Boston, MA 02108

Phone: 617-542-5542
Fax: 617-542-1542
Boston Law Office Map

Fitch Law Partners LLP
56 Pine St
Providence, RI 02903

Phone: 401-521-6500
Fax: 401-274-2780
Providence Law Office Map

Fitch Law Partners LLP
110 Cedar Street
Suite 250
Wellesley Hills, MA 02481

Phone: 781-205-4311
Fax: 617-542-1542
Map & Directions