Does U.S. monetary policy sway global crypto investment demand?
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F25%3A10258376" target="_blank" >RIV/61989100:27510/25:10258376 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S1544612325006683#aep-article-footnote-id1" target="_blank" >https://www.sciencedirect.com/science/article/pii/S1544612325006683#aep-article-footnote-id1</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.frl.2025.107408" target="_blank" >10.1016/j.frl.2025.107408</a>
Alternative languages
Result language
angličtina
Original language name
Does U.S. monetary policy sway global crypto investment demand?
Original language description
This paper examines how U.S. monetary policy shocks influence cryptocurrency demand, using novel data on cryptocurrency app usage and downloads from G20 nations between 2015 and 2022. We find that monetary tightening reduces demand, with standard policy shocks causing persistent declines in downloads and usage. While Bitcoin bull markets help mitigate this effect, they do not fully offset it. In contrast, large-scale asset purchase shocks increase app usage, reflecting heightened engagement from existing users, while forward guidance shocks drive speculative interest, particularly in crypto app downloads. These findings underscore the complex interaction between monetary policy and retail cryptocurrency participation.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50206 - Finance
Result continuities
Project
<a href="/en/project/GA23-07128S" target="_blank" >GA23-07128S: Market based measures of systemic risk using synthetic CDOs</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2025
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Finance Research Letters
ISSN
1544-6123
e-ISSN
1544-6131
Volume of the periodical
80
Issue of the periodical within the volume
June
Country of publishing house
US - UNITED STATES
Number of pages
9
Pages from-to
107408
UT code for WoS article
001477240300001
EID of the result in the Scopus database
2-s2.0-105002829599