The DOI matches its Crossref record; 31 of the 31 references it cites were found in a registry or an index.
Is Bitcoin Really Untethered?
Open accessAbstract
This paper investigates whether Tether, a digital currency pegged to the U.S. dollar, influenced Bitcoin and other cryptocurrency prices during the 2017 boom. Using algorithms to analyze blockchain data, we find that purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices. The flow is attributable to one entity, clusters below round prices, induces asymmetric autocorrelations in Bitcoin, and suggests insufficient Tether reserves before month‐ends. Rather than demand from cash investors, these patterns are most consistent with the supply‐based hypothesis of unbacked digital money inflating cryptocurrency prices.
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Cites
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Overconfidence and Speculative Bubbles
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Fads, Martingales, and Market Efficiency
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Corporate governance and blockchains
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Cited by
High frequency volatility co-movements in cryptocurrency markets
Katsiampa, P., Corbet, S., & Lucey, B. (2019) · Journal of International Financial Markets, Institutions and Money · doi:10.1016/j.intfin.2019.05.003 · Cited by 267
Artificial intelligence for anti-money laundering: a review and extension
Han, J., Huang, Y., Liu, S., & Towey, K. (2020) · Digital Finance · doi:10.1007/s42521-020-00023-1 · Cited by 113
Karau, S. (2023) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2023.102880 · Cited by 70
Tokenomics: Dynamic adoption and valuation
Cong, L. W., Li, Y., & Wang, N. (2021) · The Review of Financial Studies · doi:10.1093/rfs/hhaa089 · Cited by 58
Characterizing wealth inequality in cryptocurrencies
Sai, A. R., Buckley, J., & Le Gear, A. (2021) · Frontiers in Blockchain · doi:10.3389/fbloc.2021.730122 · Cited by 45
Metadata
- Authors
- GRIFFIN, J. M., & SHAMS, A.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2020-06-15
- Volume
- 75
- Issue
- 4
- Pages
- 1913-1964
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3124772058
- Cited by
- 665
- References
- 31
- FWCI
- 89.99
- Type
- journal article
- Language
- en
- Open access
- hybrid
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
