For more information, see Bank of Canada (2016). 4 The exchange rate is, by definition, the relative price of the Canadian dollar compared with another currency,  most often the US dollar. Therefore, global forces that influence the value of the US dollar would also affect the exchange rate.
In its recent study, it suggested that due to its high price volatility and low acceptance rate, the bitcoin could not be regarded as a full form of money from an economic perspective3.