View article

This paper investigates the role of the Bitcoin currency, in avoiding and surpassing the risks that are associated with the global geopolitical events, and circumstances. For this purpose, we have performed the bootstrap full, and the sub-sample rolling-window Granger causality tests, in order to explore the mutual influences between geopolitical risks (GPR) and Bitcoin prices (BCP). We have found that there are positive and negative influences that stem from GPR towards BCP. In this regard, the positive impacts ascertain that the Bitcoin currency can be considered as an asset that is developed in order to avoid GPR. However, this view cannot be held constant and absolute, without considering the negative effects of such an arrangement. Moreover, it is noteworthy that these results are not supported by the Intertemporal Capital Asset Pricing Model (ICAPM), which highlights that BCP can be positively affected by …