Can altcoins act as hedges or safe-havens for Bitcoin?

【Author】 Li, Yi; Lucey, Brian; Urquhart, Andrew

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】Bitcoin remains the most popular cryptocurrency and has attracted significant research at-tention, especially in the hedging and safe-haven literature. As many investors in bitcoin are concentrated heavily in cryptocurrencies as opposed to other assets, a question arises whether alternative cryptocurrencies (altcoins) can used as safe-havens and hedges against Bitcoin? We find that only meme coins offer hedging benefits but a wider range - Defi, meme coins, smart contracts, metaverse and privacy cryptocurrencies - can all act as safe-havens against bitcoin. We further show that their ability to act as hedges and safe-havens varies depending on whether the market is in a bubble or non-bubble period.

【Keywords】Bitcoin; Hedge; Safe-haven; DeFI; Cryptocurrencies

【发表时间】2023 MAR

【收录时间】2023-03-31

【文献类型】观点阐述

【主题类别】

区块链治理-市场治理-数字货币