Finance Research Letters ( IF 10.4 ) Pub Date : 2023-05-26 , DOI: 10.1016/j.frl.2023.104031 Suwan(Cheng) Long, Brian Lucey, Dayong Zhang, Zhiwei Zhang
This paper adopts an interactive network approach to investigate the factors driving the carbon footprint of Bitcoin, a negative aspect of cryptocurrencies. Our findings demonstrate that the dynamics of Bitcoin prices, including both returns and volatility, have a significant impact on the system comprising carbon emissions, energy prices, carbon prices, and financial indicators. Particularly during the first two years of the COVID-19 pandemic period, the spillover effects are observed to be particularly strong. Furthermore, we find that the dynamics of Bitcoin prices play a crucial role in driving its associated carbon emissions.
中文翻译:
加密货币的负面因素:探索比特币碳足迹的驱动因素
本文采用交互式网络方法来研究驱动比特币碳足迹的因素,这是加密货币的负面影响。我们的研究结果表明,比特币价格的动态变化,包括回报率和波动性,对包括碳排放、能源价格、碳价格和金融指标在内的系统具有重大影响。特别是在 COVID-19 大流行期间的头两年,观察到溢出效应特别强烈。此外,我们发现比特币价格的动态在推动其相关碳排放方面发挥着至关重要的作用。