According to Reuters, there is controversy as to whether bitcoin is a currency, commodity or securities. Part of the reason for the bitcoin identity crisis is that bitcoin was originally thought of as a means of payment, but now it rarely has the characteristics of a dollar, euro, or pound. Due to its volatility, it is almost useless as a store of value, and because of its slow network and high transfer costs, it is hampered as a means of exchange. The booming Bitcoin lending market is providing clues to its characteristics. Market participants and economists said that key characteristics of the market, such as market-led price discovery and motivation to seek liquidity, are similar to those of commodity leasing. Deeksha Gupta, an assistant professor of crypto finance at Carnegie Mellon University (Pittsburgh), said, "The analogy with the commodity markets is very appropriate. One of the biggest similarities is that they are also driven by people who want liquidity. "Although there is not much data to measure the size of the bitcoin lending market, it is widely believed that the size of its lending market has expanded rapidly in the past year. Crypto-lending institution Genesis Capital said its outstanding loans surged to about $ 545 million at the end of last year, compared to $ 100 million in the same period last year. Genesis CEO Michael Moro said that the implied interest rate (i.e. the price of borrowing bitcoin) in these markets is about 4-5%. On platforms where people borrow money with Bitcoin, interest rates are as high as 8%.