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Unveiling Bitcoin's Safe Haven and Hedging Properties Beyond Diversification

Unveiling Bitcoin's Safe Haven and Hedging Properties Beyond Diversification

Rui Manuel Teixeira Santos Teixeira Dias, Mariana Chambino, Paulo Alexandre, Cristina Morais da Palma, Liliana Almeida
Copyright: © 2023 |Pages: 31
ISBN13: 9781668490396|ISBN10: 1668490390|ISBN13 Softcover: 9781668490402|EISBN13: 9781668490419
DOI: 10.4018/978-1-6684-9039-6.ch018
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MLA

Dias, Rui Manuel Teixeira Santos Teixeira, et al. "Unveiling Bitcoin's Safe Haven and Hedging Properties Beyond Diversification." Internet of Behaviors Implementation in Organizational Contexts, edited by Luísa Cagica Carvalho, et al., IGI Global, 2023, pp. 380-410. https://doi.org/10.4018/978-1-6684-9039-6.ch018

APA

Dias, R. M., Chambino, M., Alexandre, P., Morais da Palma, C., & Almeida, L. (2023). Unveiling Bitcoin's Safe Haven and Hedging Properties Beyond Diversification. In L. Carvalho, C. Silveira, L. Reis, & N. Russo (Eds.), Internet of Behaviors Implementation in Organizational Contexts (pp. 380-410). IGI Global. https://doi.org/10.4018/978-1-6684-9039-6.ch018

Chicago

Dias, Rui Manuel Teixeira Santos Teixeira, et al. "Unveiling Bitcoin's Safe Haven and Hedging Properties Beyond Diversification." In Internet of Behaviors Implementation in Organizational Contexts, edited by Luísa Cagica Carvalho, et al., 380-410. Hershey, PA: IGI Global, 2023. https://doi.org/10.4018/978-1-6684-9039-6.ch018

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Abstract

This study investigates whether Bitcoin may act as a safe haven in the capital markets, including France (CAC 40), Germany (DAX 30), the US (DJI), the UK (FTSE 100), Italy (FTSE MIB), Hong Kong (HANG SENG), Spain (IBEX 35), South Korea (KOSPI), Russia (IMOEX), and Japan (NIKKEI 225), as well as in commodities such as gold (GOLD HANDY HARMAN) and petroleum (WTI), and U.S. 10-year sovereign yields, during the 2020-2022 events. The authors analyze the financial integration and movements of markets to understand how BTC behaves during periods of global economic uncertainty. During the stress period, BTC did not integrate with the analyzed markets, suggesting that BTC exhibits properties of a hedge and a safe haven. BTC has properties of a hedge and a safe haven, and investors in these markets can benefit from investing in it as a secure asset and hedge. It is affected by CAC 40, FTSE 100, HANG SENG, and NIKKEI 225 stock indexes, and investors must carefully evaluate their investment strategies and risk tolerance when including BTC in their portfolio.

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