Jurnal Ekonomi Indonesia
Vol 9 No 3 (2020): December

Bitcoin in Indonesia: Hedging or Investment Instrument?

Wardoyo, William (Unknown)
Nuryakin, Chaikal (Unknown)
Hambali, Sean (Unknown)

Article Info

Publish Date
04 Nov 2020

Abstract

Uncertainties might compel many investors to hedge by buying globally traded assets, such as Bitcoin, which has also been used as a means of payment in several countries. Bitcoin does not originate from any centralized authority and cannot entirely be controlled; therefore, Bitcoin usage might potentially pose issues to the monetary authorities within a country. This paper analyzes the effect of both global and domestic uncertainty on Bitcoin's demand in Indonesia. Our result suggests that Bitcoin is used for hedging against uncertainties. The monetary policy implications of our results are also discussed.

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Journal Info
Jurnal Ekonomi Indonesia
Website

Abbrev

isei

Publisher

Ikatan Sarjana Ekonomi Indonesia

Subject

Economics, Econometrics & Finance

Description

Jurnal Ekonomi Indonesia is a journal published by Ikatan Sarjana Ekonomi Indonesia (ISEI) consists of academic articles on various subject areas including monetary and macroprudential regulation, finance and banking system, international economics, development economics, environmental and natural ...