Cryptocurrency Hedging as an Alternative Investment in Digital Era
DOI:
https://doi.org/10.37826/icmc.v3i.503Keywords:
Cryptocurrency, Bitcoin, Hedging, Investment ReturnAbstract
This research analyzes cryptocurrencies as hedging in an attractive investment for investors with expectations. However cryptocurrencies are still much riskier than equities or commodities. Investors are attracted by the dynamics of cryptocurrencies which show that they are very similar to gold and forex investing. Some of the things that become a problem of this uncertainty will certainly give rise to investment risk which if investors do not protect their assets by diversifying their portfolios will result in sizable losses for investors. Therefore, investors need to hedge or what is known as hedging for assets owned to minimize risk. The very rapid development of cryptocurrency today makes it an alternative to protect asset values both in normal and non-normal economic times such as during the Covid 19 pandemic, wars, natural disasters and others. which will be analyzed in this study. The operational variables in this study (1) The independent variable is the JCI (Rupiah), namely the Composite Stock Price Index, which describes the movement of stock prices in Indonesia as a whole. (2) The dependent variable is Bitcoin (Rupiah) which is a cryptocurrency which is a cryptocurrency. This type of research is quantitative and data processing to produce hypotheses in this study uses the Eviews 11 application.
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