Abstract
Research in cryptofinance has continued to consider whether Bitcoin possesses a safe haven property as traditionally defined by its correlation with other assets during times of market stress. However, this neglects other attributes of assets that are important to investors during periods of crisis. Bitcoin is more volatile, less liquid, and costlier to transact (in terms of time and fees) than other assets (including gold - the traditional safe haven) even in normal market conditions. Until the market matures, it is therefore unlikely to be worthwhile considering Bitcoin as a safe haven.
| Original language | English |
|---|---|
| Pages (from-to) | 385-393 |
| Number of pages | 9 |
| Journal | Finance Research Letters |
| Volume | 30 |
| DOIs | |
| Publication status | Published - Sep 2019 |