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Risks and Returns of Cryptocurrency

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NBER2018-08-01 更新2025-01-04 收录
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We establish that the risk-return tradeoff of cryptocurrencies (Bitcoin, Ripple, and Ethereum) is distinct from those of stocks, currencies, and precious metals. Cryptocurrencies have no exposure to most common stock market and macroeconomic factors. They also have no exposure to the returns of

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2018-08-01
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