ARE GREEN CRYPTOCURRENCIES SAFE? INVESTIGATION OF THE GREEN AND NON-GREEN CRYPTOCURRENCIES

Year 2023, Volume: 14 Issue: 2, 651 - 663, 30.12.2023

Metin Kılıç , İnci Merve Altan

https://doi.org/10.54688/ayd.1353759

Cited By: 1

Abstract

Cryptocurrencies, which started with Bitcoin, which was released differently from traditional payment and investment tools, have large transaction volumes today. In addition to the many economic benefits of cryptocurrencies, which are used both as a payment tool and as a financial investment tool, high energy consumption and a heavy carbon footprint come with them. With the owner of the automaker Tesla stating that he is worried about the increasing use of fossil fuels in Bitcoin mining and cutting its support for Bitcoin, the price of Bitcoin has fallen sharply, while green cryptocurrencies have reached historical peaks. This situation reminded the investors that they should handle risky investments carefully and also highlighted the importance of green investment tools. Understanding the relationship between green cryptocurrencies and other assets is essential for investors looking to expand their portfolios and seize emerging opportunities. In this direction, the study examined whether green cryptocurrencies are a safe haven against non-green cryptocurrencies in the period of January 2022–July 2023. In the analysis, DCC-GARCH analysis, risk, and return analyses were performed for safe haven. According to the analysis' findings, among cryptocurrencies, green cryptocurrencies are most likely to be a safe haven for investors.

Keywords

Green cryptocurrencies, Cryptocurrencies, DCC-GARCH, Risk-Return

YEŞİL KRİPTO PARALAR GÜVENLİ Mİ? YEŞİL VE YEŞİL OLMAYAN KRİPTO PARALARIN İNCELENMESİ

Abstract

Geleneksel ödeme ve yatırım araçlarından farklı olarak piyasaya sürülen Bitcoin ile başlayan kripto paralar günümüzde büyük işlem hacimlerine sahiptir. Hem ödeme aracı hem de finansal yatırım aracı olarak kullanılan kripto paraların bir çok ekonomik faydasına ek olarak yüksek enerji tüketimi ve ağır karbon ayak izi de beraberinde gelmektedir. Otomobil üreticisi Tesla’nın sahibinin Bitcoin madenciliğinde fosil yakıt kullanımının giderek artmasından endişe duyduğunu ve Bitcoin’e vereceği desteği kestiğini belirtmesiyle birlikte Bitcoin fiyatında görülen keskin düşüşe karşılık yeşil kripto paralarda görülen hızlı artış, yatırımcıları daha riskli yatırımları dikkatli bir şekilde ele alması gerektiğini hatırlatmıştır. Yeşil kripto paralar ile diğer varlıklar arasındaki ilişkiyi anlamanın, portföylerini genişletmeyi ve çıkan fırsatları yakalamayı amaçlayan yatırımcılar için oldukça önemlidir. Bu doğrultuda çalışmada Ocak 2022-Temmuz 2023 döneminde yeşil kripto paraların, yeşil olmayan kripto paralar karşısında güvenli bölge olup olmadığı incelenmiştir. Analizde güvenli bölge analizi için DCC-GARCH, risk ve getiri analizi yapılmıştır. Analiz bulguları, kripto paralar arasında yeşil kripto paraların güvenli sığınak olma olasılıklarının yüksek olduğunu göstermektedir.

Keywords

Yeşil Kripto Paralar, Kripto Paralar, DCC-GARCH, Risk-Getiri

Ethical Statement

Araştırmada ikincil veriler kullanıldığından dolayı etik kurul izni gerekmemektedir.

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