Bitcoins fundamental value drivers: an empirical analysis

Detalhes bibliográficos
Autor(a) principal: Benner, Tom
Data de Publicação: 2021
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/127200
Resumo: Bitcoin is a decentralized, self-sovereign digital currency that is not controlled by any state, bank, institution or individual. Despite being the best performing asset of the last decade, the technology is still not very well understood and previous literature has shown little consensus about the factors underlying its price formation. This paper aims to enhance the understanding of this new technology and analyze fundamental value drivers. We identified three key valuation models for Bitcoin based on (1)the energy consumption of the network, (2) the level of scarcity of the asset, and (3) the interplay between supply & demand for the digital currency.
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spelling Bitcoins fundamental value drivers: an empirical analysisBitcoinBlockchainStock-to-flowHash rateMining difficultyDomínio/Área Científica::Ciências Sociais::Economia e GestãoBitcoin is a decentralized, self-sovereign digital currency that is not controlled by any state, bank, institution or individual. Despite being the best performing asset of the last decade, the technology is still not very well understood and previous literature has shown little consensus about the factors underlying its price formation. This paper aims to enhance the understanding of this new technology and analyze fundamental value drivers. We identified three key valuation models for Bitcoin based on (1)the energy consumption of the network, (2) the level of scarcity of the asset, and (3) the interplay between supply & demand for the digital currency.Rizzo, EmanueleRUNBenner, Tom2024-01-04T01:31:02Z2021-01-112021-01-042021-01-11T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/127200TID:202740820enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:07:18Zoai:run.unl.pt:10362/127200Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:46:04.718704Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Bitcoins fundamental value drivers: an empirical analysis
title Bitcoins fundamental value drivers: an empirical analysis
spellingShingle Bitcoins fundamental value drivers: an empirical analysis
Benner, Tom
Bitcoin
Blockchain
Stock-to-flow
Hash rate
Mining difficulty
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Bitcoins fundamental value drivers: an empirical analysis
title_full Bitcoins fundamental value drivers: an empirical analysis
title_fullStr Bitcoins fundamental value drivers: an empirical analysis
title_full_unstemmed Bitcoins fundamental value drivers: an empirical analysis
title_sort Bitcoins fundamental value drivers: an empirical analysis
author Benner, Tom
author_facet Benner, Tom
author_role author
dc.contributor.none.fl_str_mv Rizzo, Emanuele
RUN
dc.contributor.author.fl_str_mv Benner, Tom
dc.subject.por.fl_str_mv Bitcoin
Blockchain
Stock-to-flow
Hash rate
Mining difficulty
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Bitcoin
Blockchain
Stock-to-flow
Hash rate
Mining difficulty
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description Bitcoin is a decentralized, self-sovereign digital currency that is not controlled by any state, bank, institution or individual. Despite being the best performing asset of the last decade, the technology is still not very well understood and previous literature has shown little consensus about the factors underlying its price formation. This paper aims to enhance the understanding of this new technology and analyze fundamental value drivers. We identified three key valuation models for Bitcoin based on (1)the energy consumption of the network, (2) the level of scarcity of the asset, and (3) the interplay between supply & demand for the digital currency.
publishDate 2021
dc.date.none.fl_str_mv 2021-01-11
2021-01-04
2021-01-11T00:00:00Z
2024-01-04T01:31:02Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/127200
TID:202740820
url http://hdl.handle.net/10362/127200
identifier_str_mv TID:202740820
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
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collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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