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The crypto multiplier

delete2025-10-09
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OA
AI
R
Rodney Garratt
M
Maarten R.C. van Oordt *
DOI：10.1016/j.jcorpfin.2025.102904delete
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摘要

摘要

En 中文
本文提出了“加密乘数”（crypto multiplier）的概念，该概念衡量加密货币市值对投资者资金流入和流出的均衡反应。当加密货币的代币有较大比例被作为投资持有而非用作支付手段时，加密乘数会取较高值。区块链数据显示，主要加密货币中用于支付目的的代币比例相当小，这表明其加密乘数较大。我们的研究结果表明，市场参与者在接受加密货币区块持有量作为抵押品或种子资金补偿时需保持警惕。加密乘数表明，加密货币区块持有量的清算价值可能远低于其当前市场价值。
Keyword:
Cryptocurrencys
Bitcoin
Exchange rate
Risk management
Valuation
AI总结

AI总结

对已上传原文的论文进行重点信息的提取，主要内容包括：简要概述、研究摘要、背景介绍、关键亮点、图文解析、展望与总结。

期刊

Journal of Corporate Finance 封面图
Journal of Corporate Finance
IF:
5.9
论文数:
2.5K
被引数:
2.0W

机构

V
Vrije Universiteit Amsterdam
学者数:
4.2W
论文数: 3.7W
被引数: 3.7W
U
university of california
学者数:
1.9W
论文数: 8.0K
被引数: 10
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