Cryptocurrencies As an Asset Class? An Empirical ...

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Yermack, D. (2015) Is Bitcoin a Real Currency? The Handbook of Digital Currency (Elsevier) Wei, C., and Yermack, D. (2011) Investors' Reactions to CEO Inside Debt Incentives Review of Financial Studies. Yermack, D. (2006) Flights of Fancy: Corporate Jets, CEO Perquisites, and Inferior Shareholder Returns Journal of Financial Economics. Yermack, D. (1997) Good Timing: CEO Stock Option Awards ... with earlier findings by Yermack (2013) that show that Bitcoin is not driven by major macroeconomic events. Literature Review. This article contributes to two strands of literature. First, it adds to recent literature that aims to understand the investment properties of cryptocurrencies. Yermack (2013) and Dyhrberg (2016) investigated the hedging Yermack (2013) stresses that bitcoin is not being used as a unit of account for standard consumer finance credit, auto loans or mortgages and that no credit or debit card are denominated in bitcoin. According to Yermack (p. 7), the usefulness of bitcoin as a unit of account and store of value is further undermined by its volatility, which Several authors have attempted to describe Bitcoin as a currency, stock, or asset. Yermack (2013) argues that Bitcoin appears to behave more similar to a speculative store of value rather than a currency. Dwyer (2015), on the other hand, describes Bitcoin as an electronic currency that can be used to trade and store in a personal balance sheet. Dwyer s argument is supported by Polasik et al ... Yermack (2013) examines the historical trading behaviour of BTC to see whether it behaves like a traditional currency. He compares the volatility of the BTC/USD exchange rate to the volatilities of the exchange rates of the Euro, Yen, British Pound, and Swiss Franc as well as the price of gold, and finds that the volatility of the BTC exchange rate is significantly higher than any other ...

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When Bitcoin Hit $100: CNBC's 2013 Coverage - YouTube

A niche bitcoin firm engaged in Bitcoin stock market , 6000 BTC were hacked November 2013, 4: Poloniex A cryptocurrency exchange from USA Lost 12.3% of its BTC in March 2014 CEO made a decision ... Less than two years after it had been trading under $1, Bitcoin surged to more than $100 in the spring of 2013. CNBC's panel discussed the risks and benefits... Over that time, gold and silver are down, the stock market is up about 45%, but Bitcoin is up more than 15,000%, or more than 300x everything else. In the preceding time, we have seen the use of ... Recorded at the Bitcoin 2013 conference in San Jose, CA. Conference sponsored by Bitcoin Foundation. Red Pill Recording recorded this talk. We volunteered our time to produce this video. If you ... #bitcoin #like #cryptocurrency #news #btc #ethereum #eth #cryptocurrency #litecoin #altcoin #altcoins #eos #forex #money #best #trading #bitcoinmining #invest #trader #cryptocurrencies #top # ...

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