Bitcoin growth amid climate change: Policy and investment implications
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Lashkaripour, M., Hosseini, S., & Ahmed, R. (2026). Bitcoin growth amid climate change: Policy and investment implications. Journal of Environmental Economics and Management, 139, 103351. https://doi.org/10.1016/j.jeem.2026.103351
© 2026 The Author(s). Published by Elsevier Inc. This is an open access article under the CC BY license
(http://creativecommons.org/licenses/by/4.0/).
Lataukset20
Pysyvä osoite
Kuvaus
Bitcoin contributes to global carbon emissions on a scale comparable to entire countries in order to secure its decentralized network. This exposes Bitcoin to climate policies aimed at reducing emissions. This paper develops a general equilibrium framework to examine how the stringency of climate policy affects Bitcoin’s valuation and its relationship with the equity market. Our theoretical analysis delivers a key insight: a transition from a lenient to a stringent climate policy increases the conditional correlation between Bitcoin and equity returns, thereby compromising Bitcoin’s appeal as a hedge or diversifier against equity market volatility. Empirical evidence supports this theoretical prediction.
Emojulkaisu
ISBN
ISSN
1096-0449
0095-0696
0095-0696
Aihealue
Kausijulkaisu
Journal of environmental economics and management|139
OKM-julkaisutyyppi
A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä (vertaisarvioitu)