Speculation and the price of virtual currency

W. Bolt, Maarten van Oordt

Research output: Online publication or Non-textual formOnline publication or WebsiteProfessional

Abstract

What drives the volatility of Bitcoin? This column explains a theoretical framework to link exchange rates to currency creation, speculative behaviour, and real growth in goods and services transactions. It suggests that the exchange rate will be less sensitive to speculators' beliefs when a virtual currency becomes more established as a means of payment.
Original languageEnglish
Place of PublicationLondon
PublisherVoxEU.org
Publication statusPublished - 14 May 2019

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