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Bitcoin is a digital currency that has gained significant traction as an economic instrument. Despite its rise, it has received little attention from the scholarly community. This study is one of the first studies to examine Bitcoin’s use as a complement to emerging markets currencies; more specifically, I analyze the value and volatility of Bitcoin relative to emerging market currencies and explore ways in which Bitcoin can complement emerging market currencies. The results suggest that Bitcoin has characteristics that make it well-suited to work as a complement to emerging market currencies and that there are ways to minimize Bitcoin’s risks.
Jon Carrick (Tue,) studied this question.