Bitcoin growth amid climate change: Policy and investment implications

Tietueen suppeat tiedot
dc.contributor.authorLashkaripour, Mohammadhossein
dc.contributor.authorHosseini, Seyedmehdi
dc.contributor.authorAhmed, Rizwan
dc.date.accessioned2026-06-16T05:59:00Z
dc.date.issued2026
dc.description.abstractBitcoin 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.en
dc.description.reviewstatusfi=vertaisarvioitu|en=peerReviewed|
dc.identifier.citationLashkaripour, 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
dc.identifier.urihttps://osuva.uwasa.fi/handle/11111/20816
dc.identifier.urnURN:NBN:fi-fe2026061671263
dc.language.isoen
dc.publisherElsevier
dc.relation.doihttps://doi.org/10.1016/j.jeem.2026.103351
dc.relation.ispartofjournalJournal of environmental economics and management
dc.relation.issn1096-0449
dc.relation.issn0095-0696
dc.relation.urlhttps://doi.org/10.1016/j.jeem.2026.103351
dc.relation.urlhttps://urn.fi/URN:NBN:fi-fe2026061671263
dc.relation.volume139
dc.rightshttps://creativecommons.org/licenses/by/4.0/
dc.rights.copyright© 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/).
dc.source.identifierWOS:001785372900001
dc.source.identifier2-s2.0-105040082015
dc.source.identifier9ef5c909-5d38-4765-940f-94068e0f9634
dc.source.metadataSoleCRIS
dc.subjectNetwork security
dc.subjectBitcoin
dc.subjectClimate damages
dc.subjectTransition risk
dc.subjectExternality
dc.subjectEmissions cap
dc.subject.disciplinefi=Rahoitus|en=Finance|
dc.titleBitcoin growth amid climate change: Policy and investment implications
dc.type.okmfi=A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä (vertaisarvioitu)|en=A1 Journal article (peer-reviewed)|
dc.type.publicationarticle
dc.type.versionpublishedVersion

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