Bitcoin : something seems to be "fundamentally" wrong

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Borradores de Economía; No. 819
Date published
2014-05-12
Date of last update
2014-05-12
Author
Gómez-González, José Eduardo
Parra-Polanía, Julián Andrés
Document language
spa
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
In the present paper we remark that the absence of an intrinsic or fundamental value represents a problem for the stability of the bitcoin’s price as an asset. In addition, we consider some financial stability concerns that derive from the hypothesis that
JEL Codes
E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment SystemsG23 - Non-bank Financial Institutions; Financial Instruments; Institutional InvestorsG12 - Asset Pricing; Trading Volume; Bond Interest Rates
Keywords
Bitcoin ; Fundamental value ; Financial stability ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6106
https://hdl.handle.net/20.500.12134/6106
https://doi.org/10.32468/be.819
https://ideas.repec.org/p/bdr/borrec/819.html
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This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit