Abstract

http://ssrn.com/abstract=2425247
 


 



Bitcoin - Asset or Currency? Revealing Users' Hidden Intentions


Florian Glaser


Goethe University Frankfurt Faculty of Economics and Business Administration

Kai Zimmermann


Goethe University Frankfurt Faculty of Economics and Business Administration

Martin Haferkorn


Goethe University Frankfurt Faculty of Economics and Business Administration

Moritz Christian Weber


Goethe University Frankfurt Faculty of Economics and Business Administration

Michael Siering


Goethe University Frankfurt Faculty of Economics and Business Administration

April 15, 2014

ECIS 2014 (Tel Aviv)

Abstract:     
Digital currencies are a globally spreading phenomenon that is frequently and also prominently addressed by media, venture capitalists, financial and governmental institutions alike. As exchange prices for Bitcoin have reached multiple peaks within 2013, we pose a prevailing and yet academically unaddressed question: What are users' intentions when changing their domestic into a digital currency? In particular, this paper aims at giving empirical insights on whether users’ interest regarding digital currencies is driven by its appeal as an asset or as a currency. Based on our evaluation, we find strong indications that especially uninformed users approaching digital currencies are not primarily interested in an alternative transaction system but seek to participate in an alternative investment vehicle.

Number of Pages in PDF File: 14

Keywords: Bitcoin, Decision Making in Electronic Markets, Digital Currency, Investor Behavior, Virtual Currency

JEL Classification: G00, G10, G11

Accepted Paper Series


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Date posted: April 16, 2014  

Suggested Citation

Glaser, Florian and Zimmermann, Kai and Haferkorn, Martin and Weber, Moritz Christian and Siering, Michael, Bitcoin - Asset or Currency? Revealing Users' Hidden Intentions (April 15, 2014). ECIS 2014 (Tel Aviv). Available at SSRN: http://ssrn.com/abstract=2425247

Contact Information

Florian Glaser
Goethe University Frankfurt Faculty of Economics and Business Administration ( email )
Grüneburgplatz 1
Frankfurt am Main, 60323
Germany
Kai Zimmermann
Goethe University Frankfurt Faculty of Economics and Business Administration ( email )
Grueneburgplatz 1
Frankfurt am Main, 60323
Germany
Martin Haferkorn (Contact Author)
Goethe University Frankfurt Faculty of Economics and Business Administration ( email )
Grueneburgplatz 1
Frankfurt am Main, 60323
Germany
Moritz Christian Weber
Goethe University Frankfurt Faculty of Economics and Business Administration ( email )
Grueneburgplatz 1
Frankfurt am Main, 60323
Germany
Michael Siering
Goethe University Frankfurt Faculty of Economics and Business Administration ( email )
Grueneburgplatz 1
Frankfurt am Main, 60323
Germany
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