Proceedings of the 20th International Symposium on Management (INSYMA 2023)

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Empirical Case Among Explanatory Asset, Financial Asset Dan Macro-Economic on Return Bitcoin

Authors
Muhammad Rizky Nasution1, *, Isfenti Sadalia1, Nisrul Irawati1
1Universitas Sumatera Utara, Medan, Indonesia
*Corresponding author. Email: muhammad.rizkynst7@gmail.com
Corresponding Author
Muhammad Rizky Nasution
Available Online 30 September 2023.
DOI
10.2991/978-94-6463-244-6_10How to use a DOI?
Keywords
Bitcoin Supply; Bitcoin Miners Revenue; S&P 500 Index; Nikkei 225 Index
Abstract

The S&P 500 Index, NIKKEI 225, World Oil Prices, Gold Prices, Bitcoin Supply, Bitcoin Miners Revenue, and Bitcoin Returns are some of the research variables used in this study. The websites https://Blockchain.com, https://finance.yahoo.com, and other sites that promote research served as the study’s data sources. In order to generate a target population of 1,096 (3 years x 365) daily report data for the data sample in this study, a documentation study on the publication of daily cryptocurrency transaction reports was done, yielding time series data from January 1, 2020 to December 31, 2022. Time series data analysis using Engel Granger’s Error Correction Model is the method employed (ECM). The computer application Econometric Views (Eviews) is the analysis tool employed. The findings of this study show that Bitcoin Supply significantly and negatively affects bitcoin returns. Returns on bitcoin are positively and significantly impacted by Bitcoin Miners’ Revenue. Returns on bitcoin are positively and significantly impacted by S&P 500. Returns on bitcoin are negatively and negligibly impacted by Nikkei 225. Returns on bitcoin have a favorable and large impact from global oil prices. Returns on bitcoin are positively and negligibly impacted by the gold price.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 20th International Symposium on Management (INSYMA 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
30 September 2023
ISBN
10.2991/978-94-6463-244-6_10
ISSN
2352-5428
DOI
10.2991/978-94-6463-244-6_10How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Muhammad Rizky Nasution
AU  - Isfenti Sadalia
AU  - Nisrul Irawati
PY  - 2023
DA  - 2023/09/30
TI  - Empirical Case Among Explanatory Asset, Financial Asset Dan Macro-Economic on Return Bitcoin
BT  - Proceedings of the 20th International Symposium on Management (INSYMA 2023)
PB  - Atlantis Press
SP  - 51
EP  - 56
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-244-6_10
DO  - 10.2991/978-94-6463-244-6_10
ID  - Nasution2023
ER  -