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Bitcoin in the economics and finance literature: a survey

Author

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  • Parthajit Kayal

    (Madras School of Economics (MSE))

  • Purnima Rohilla

    (Madras School of Economics (MSE))

Abstract

This paper provides a review of the literature on key matters related to the popular cryptocurrency Bitcoin. Another key motivation of this paper is to understand the underlying principle of this digital currency from the economic and financial point of view. For the survey to be comprehensive, the paper is categorized into varied themes: price dynamics, volatility, bubble dynamics, mode of recognition in the financial market, efficiency, economics, social media and investor sentiment, and lastly regulation and legality. We argue that Bitcoin is still in an embryonic phase and needs to evolve with time especially keeping in pace with technological advancements. It should be robust to get accepted as an alternative currency and be able to prevent any fraudulent exploitation.

Suggested Citation

  • Parthajit Kayal & Purnima Rohilla, 2021. "Bitcoin in the economics and finance literature: a survey," SN Business & Economics, Springer, vol. 1(7), pages 1-21, July.
  • Handle: RePEc:spr:snbeco:v:1:y:2021:i:7:d:10.1007_s43546-021-00090-5
    DOI: 10.1007/s43546-021-00090-5
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