| dc.description.abstract | In today’s society, there are so many investment commodities in our world. Each commodity has different characteristics and properties to play a different role in the asset market. In 2020, the global financial market was under influence by Covid-19. The U.S government initiated the quantitative easing policy to save economic and market. However, a lot of hot money flows into market as well owning to this policy. Therefore, anti-inflationary financial products will be the primary target for this hot money.
Therefore, the virtue coin – Bitcoin is taken as the target in this thesis and observes whether the market regard it as anti-inflation products or not. Conducting by multiple regression analysis and correlation analysis, the Bitcoin is compared with the indicators of US stock market, including the Nasdaq Index, the Philadelphia Semiconductor Index, and the S&P 500 Index. And also it is analyzed with the anti-inflation product – gold.
Based on analysis results, Bitcoin is positively correlated with the U.S. stock indexes and the correlation is extremely high. This also means that Bitcoin is indeed regarded as another place where funds will be oriented in addition to stocks.
In addition, gold and Bitcoin are relatively negatively correlated, which also shows that Bitcoin is unlikely to be regarded as a stable safe-haven commodity. | en_US |