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Failure of Gold, Bitcoin and Ethereum as safe havens during the Ukraine-Russia war

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  • Alhonita YATIE

Abstract

This paper studies the impact of fear, uncertainty and market volatility caused by the Ukraine-Russia war on crypto-assets returns (Bitcoin and Ethereum) and Gold returns. We use the searches on Wikipedia trends as proxies of uncertainty and fear and two volatility indices: S&P500 VIX and the Russian VIX (RVIX). The results show that Bitcoin, Ethereum and Gold failed as safe havens during this war.

Suggested Citation

  • Alhonita YATIE, 2022. "Failure of Gold, Bitcoin and Ethereum as safe havens during the Ukraine-Russia war," Bordeaux Economics Working Papers 2022-07, Bordeaux School of Economics (BSE).
    • Handle: RePEc:grt:bdxewp:2022-07
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    File URL: http://bordeauxeconomicswp.u-bordeaux.fr/2022/2022-07.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    War; Russia; Ukraine; crypto-assets; Gold; Safe haven;
    All these keywords.

    JEL classification:

    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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