Detail práce

Virtual currencies in real economy: Bitcoin

Autor: Mgr. Jiří Šafka
Rok: 2014 - letní
Vedoucí: PhDr. Pavel Vacek Ph.D.
Konzultant:
Typ práce: Diplomová
Ekonomická teorie
Jazyk: Anglicky
Stránky: 86
Ocenění:
Odkaz: https://is.cuni.cz/webapps/zzp/detail/138114/
Abstrakt: This paper examines the relationship between virtual currency, the Bitcoin, and the real economy. In the
first part the description of the term virtual currency is provided with special focus on Bitcoin. Also the
legal and taxation issues are discussed. In the main part the volatility of Bitcoin is inspected using
various models from Autoregressive heteroskedasticity models family. We found that the volatility of
Bitcoin differs significantly through time and that this relation is captured best by T-GARCH (1,1)
model. Finally the relationship between Bitcoin and real economy indicators is observed to be
inconsistent and mostly insignificant in time. Thus we conclude that the independency of Bitcoin cannot
be rejected.

Partneři

Deloitte

Sponzoři

CRIF
McKinsey
Patria Finance