Negative elements of cryptocurrencies: Exploring the drivers of Bitcoin carbon footprints

【Author】 Long, Suwan (Cheng); Lucey, Brian; Zhang, Dayong; Zhang, Zhiwei

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】This paper adopts an interactive network approach to investigate the factors driving the carbon footprint of Bitcoin, a negative aspect of cryptocurrencies. Our findings demonstrate that the dynamics of Bitcoin prices, including both returns and volatility, have a significant impact on the system comprising carbon emissions, energy prices, carbon prices, and financial indicators. During the first two years of the COVID-19 pandemic period, the spillover effects are observed to be particularly strong. Furthermore, we find that the dynamics of Bitcoin prices play a crucial role in driving its associated carbon emissions.

【Keywords】Q54; Bitcoin; Carbon footprint; COVID-19; Cryptocurrency; Emissions

【发表时间】2023 DEC

【收录时间】2023-10-25

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-数字货币