Key facts
- South African High Court ruled Bitcoin is capital.
- Bitcoin classified as a negotiable instrument.
- Court cited Bitcoin's value, speculative use, and merchant acceptance.
A South African High Court has ruled that Bitcoin can be legally treated as "capital" and a "negotiable instrument," akin to money. The court's decision was based on Bitcoin's inherent value, its use in speculation, and its acceptance by merchants. This ruling came in the context of a legal battle involving the seizure of 1,680 Bitcoins.