A comparative analysis between bitcoin, and gold as a reserve of value
DOI:
https://doi.org/10.23925/1806-9029.36i2(66)68878Keywords:
Bitcoin, Reserve of Value, Panel DataAbstract
The reserve of value is the ability of assets to preserve their purchasing power over time. With the creation of digital currencies, there is a doubt as to whether bitcoin would be a good store of value; Thus, the objective of this article was to analyze whether bitcoin can be considered a good store of value, comparing the performance of the cryptocurrency with the gold. We also sought to understand what are the determinants of the demand for bitcoin. The analysis was made from data collected from various sources such as World Bank Data, IMF, coindance.com, among others, between the years 2013 to 2021 for a group of 20 countries, totaling a time cut of nine years. The results show that bitcoin has the function of preserving value over time and that countries with less economic stability tend to demand more bitcoin.
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