ARE GREEN CRYPTOCURRENCIES SAFE? INVESTIGATION OF THE GREEN AND NON-GREEN CRYPTOCURRENCIES

Metin Kılıç; İnci Merve Altan

Makale detayları

ARE GREEN CRYPTOCURRENCIES SAFE? INVESTIGATION OF THE GREEN AND NON-GREEN CRYPTOCURRENCIES

Yazarlar:

Metin Kılıç | İnci Merve Altan

Yayıncı:

Inonu University

Ana Başlıklar:

Ekonometri (Diğer)

Dergi:

Akademik Yaklaşımlar Dergisi Vol.14 Issue 2, pp.651-663

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001305109

pISSN:

2146-1740

Anahtar kelimeler:

Özet:

 Cryptocurrencies, which started with Bitcoin, which was released differently from traditional payment and investment tools, have large transaction volumes today. In addition to the many economic benefits of cryptocurrencies, which are used both as a payment tool and as a financial investment tool, high energy consumption and a heavy carbon footprint come with them. With the owner of the automaker Tesla stating that he is worried about the increasing use of fossil fuels in Bitcoin mining and cutting its support for Bitcoin, the price of Bitcoin has fallen sharply, while green cryptocurrencies have reached historical peaks. This situation reminded the investors that they should handle risky investments carefully and also highlighted the importance of green investment tools. Understanding the relationship between green cryptocurrencies and other assets is essential for investors looking to expand their portfolios and seize emerging opportunities. In this direction, the study examined whether green cryptocurrencies are a safe haven against non-green cryptocurrencies in the period of January 2022July 2023. In the analysis, DCC-GARCH analysis, risk, and return analyses were performed for safe haven. According to the analysis findings, among cryptocurrencies, green cryptocurrencies are most likely to be a safe haven for investors.

 Cryptocurrencies, which started with Bitcoin, which was released differently from traditional payment and investment tools, have large transaction volumes today. In addition to the many economic benefits of cryptocurrencies, which are used both as a payment tool and as a financial investment tool, high energy consumption and a heavy carbon footprint come with them. With the owner of the automaker Tesla stating that he is worried about the increasing use of fossil fuels in Bitcoin mining and cutting its support for Bitcoin, the price of Bitcoin has fallen sharply, while green cryptocurrencies have reached historical peaks. This situation reminded the investors that they should handle risky investments carefully and also highlighted the importance of green investment tools. Understanding the relationship between green cryptocurrencies and other assets is essential for investors looking to expand their portfolios and seize emerging opportunities. In this direction, the study examined whether green cryptocurrencies are a safe haven against non-green cryptocurrencies in the period of January 2022July 2023. In the analysis, DCC-GARCH analysis, risk, and return analyses were performed for safe haven. According to the analysis findings, among cryptocurrencies, green cryptocurrencies are most likely to be a safe haven for investors.

 Cryptocurrencies, which started with Bitcoin, which was released differently from traditional payment and investment tools, have large transaction volumes today. In addition to the many economic benefits of cryptocurrencies, which are used both as a payment tool and as a financial investment tool, high energy consumption and a heavy carbon footprint come with them. With the owner of the automaker Tesla stating that he is worried about the increasing use of fossil fuels in Bitcoin mining and cutting its support for Bitcoin, the price of Bitcoin has fallen sharply, while green cryptocurrencies have reached historical peaks. This situation reminded the investors that they should handle risky investments carefully and also highlighted the importance of green investment tools. Understanding the relationship between green cryptocurrencies and other assets is essential for investors looking to expand their portfolios and seize emerging opportunities. In this direction, the study examined whether green cryptocurrencies are a safe haven against non-green cryptocurrencies in the period of January 2022July 2023. In the analysis, DCC-GARCH analysis, risk, and return analyses were performed for safe haven. According to the analysis findings, among cryptocurrencies, green cryptocurrencies are most likely to be a safe haven for investors.

 Geleneksel ödeme ve yatırım araçlarından farklı olarak piyasaya sürülen Bitcoin ile başlayan kripto paralar günümüzde büyük işlem hacimlerine sahiptir. Hem ödeme aracı hem de finansal yatırım aracı olarak kullanılan kripto paraların bir çok ekonomik faydasına ek olarak yüksek enerji tüketimi ve ağır karbon ayak izi de beraberinde gelmektedir. Otomobil üreticisi Teslanın sahibinin Bitcoin madenciliğinde fosil yakıt kullanımının giderek artmasından endişe duyduğunu ve Bitcoine vereceği desteği kestiğini belirtmesiyle birlikte Bitcoin fiyatında görülen keskin düşüşe karşılık yeşil kripto paralarda görülen hızlı artış, yatırımcıları daha riskli yatırımları dikkatli bir şekilde ele alması gerektiğini hatırlatmıştır. Yeşil kripto paralar ile diğer varlıklar arasındaki ilişkiyi anlamanın, portföylerini genişletmeyi ve çıkan fırsatları yakalamayı amaçlayan yatırımcılar için oldukça önemlidir. Bu doğrultuda çalışmada Ocak 2022-Temmuz 2023 döneminde yeşil kripto paraların, yeşil olmayan kripto paralar karşısında güvenli bölge olup olmadığı incelenmiştir. Analizde güvenli bölge analizi için DCC-GARCH, risk ve getiri analizi yapılmıştır. Analiz bulguları, kripto paralar arasında yeşil kripto paraların güvenli sığınak olma olasılıklarının yüksek olduğunu göstermektedir.

Makale detayları

ARE GREEN CRYPTOCURRENCIES SAFE? INVESTIGATION OF THE GREEN AND NON-GREEN CRYPTOCURRENCIES

Yazarlar:

Metin Kılıç | İnci Merve Altan

Yayıncı:

Inonu University

Ana Başlıklar:

Ekonometri (Diğer)

Dergi:

Akademik Yaklaşımlar Dergisi Vol.14 Issue 2, pp.651-663

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001305109

pISSN:

2146-1740

Green cryptocurrencies

Cryptocurrencies

DCC-GARCH

Risk-ReturnYeşil Kripto Paralar

Kripto Paralar

DCC-GARCH

Risk-Getiri

Sayı

Makale detayları

Yazarlar: Metin Kılıç | İnci Merve Altan

Yayıncı: Inonu University

Ana Başlıklar: Ekonometri (Diğer)

Dergi: Akademik Yaklaşımlar Dergisi Vol.14 Issue 2, pp.651-663

Belge Tipi: Makale

Yayın Tarihi: 12/2023

Belge Dili: İngilizce

Document ID (Org No.): 2001305109

pISSN: 2146-1740

Sayı

Yazarlar:

Metin Kılıç | İnci Merve Altan

Yayıncı:

Inonu University

Ana Başlıklar:

Ekonometri (Diğer)

Dergi:

Akademik Yaklaşımlar Dergisi Vol.14 Issue 2, pp.651-663

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001305109

pISSN:

2146-1740