Bitcoins as an investment or speculative vehicle? A first look

被引：362

作者：

Baek, C. ^{[1
]}

Elbeck, M. ^{[1
]}

机构：

[1] Troy Univ, Sorrell Coll Business, Dothan, AL 36303 USA

来源：

APPLIED ECONOMICS LETTERS | 2015年 / 22卷 / 01期

关键词：

G14; G11; speculation; detrended ratio; investment; Bitcoin; exponential trend;

D O I：

10.1080/13504851.2014.916379

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We use Bitcoin and S&P 500 Index daily return data to examine relative volatility using detrended ratios. We then model Bitcoin market returns with selected economic variables to study the drivers of Bitcoin market returns. We report strong evidence to suggest that Bitcoin volatility is internally (buyer and seller) driven leading to the conclusion that the Bitcoin market is highly speculative at present.

引用

页码：30 / 34

页数：5

共 8 条

[1]

[Anonymous], 2014, ENTREPRENEUR

[2]

Cohen J., 2013, APPL MULTIPLE REGRES, DOI DOI 10.4324/9780203774441

[3] From megabytes to megabucks [e-currency] [J].