Alternatif Bir Finansal Varlık Sınıfı Olarak Bitcoin: Jeopolitik Risk, Küresel Ekonomik Politik Belirsizlik ve Enerji Tüketimi Arasındaki İlişkiler

Öz

Bu araştırmanın amacı, Küresel Ekonomik Politik Belirsizlik (GEPU) ile Jeopolitik Risk (GPRT) ve Bitcoin Enerji Tüketimi (BTCE) arasındaki nedenselliği araştırmaktır. Değişkenlerin durağanlığını test etmek için yapısal kırılmaları dikkate alan Lee-Strazich birim kök testi kullanılmış ve değişkenler arasındaki nedensellik ilişkisi Hatemi-J (2012) nedensellik testi ile analiz edilmiştir. Araştırmada Mayıs 2011 ile Şubat 2022 arasındaki aylık veriler kullanılmıştır. Araştırmadan elde edilen sonuçlara göre, jeopolitik risk ve küresel ekonomik politika belirsizliği bitcoin enerji tüketimi üzerinde etkilidir. Ayrıca jeopolitik risk ve küresel belirsizliklerin negatif etkilerinin daha baskın olduğu tespit edilmiştir. Sonuçlar, alternatif bir finansal varlık sınıfı olarak kabul edilen bitcoin talebinin ve buna bağlı olarak bitcoin enerji tüketiminin küresel riskler ve ekonomik belirsizlikler durumunda arttığını göstermektedir.

Anahtar Kelimeler

• Bitcoin
• Finansal varlık
• Küresel ekonomik politika belirsizliği
• Jeopolitik risk
• Geopolitical risk
• Energy consumption

Destekleyen Kurum

Bulunmamaktadır.

Proje Numarası

Bulunmamaktadır.

Bitcoin as an Alternative Financial Asset Class: Relations Between Geopolitical Risk, Global Economic Political Uncertainty, and Energy Consumption

Öz

The aim of this research is to investigate the causality between Global Economic Political Uncertainty (GEPU) and Geopolitical Risk (GPRT) and Bitcoin Energy Consumption (BTCE). In order to test the stationarity of the variables, the Lee-Strazich unit root test, which takes into account the structural breaks, was used, and the causality relationship between the variables was analyzed with the Hatemi-J (2012) causality test. Monthly data between May 2011 and February 2022 were used in the research. According to the results obtained from the research, geopolitical risk and global economic policy uncertainity are effective on bitcoin energy consumption. In addition, it has been determined that the negative effects of geopolitical risk and global uncertainties are more dominant. The results show that the demand for bitcoin, which is considered an alternative financial asset class, and accordingly bitcoin energy consumption, increases in case of global risks and economic uncertainties.

Anahtar Kelimeler

• Bitcoin
• Financial asset
• Global economic policy uncertainity

Proje Numarası

Bulunmamaktadır.

Kaynakça

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