Date of Award
5-2024
Degree Type
Honors College Thesis
Academic Program
Accounting BSBA
Department
Accounting
First Advisor
Steven Stelk, Ph.D.
Advisor Department
Finance, Real Estate, and Business Law
Abstract
Since its inception on January 3, 2009, Bitcoin and other cryptocurrencies have grown in price and popularity. As cryptocurrencies become more well-known to the public, regulators realize that these virtual currencies need to be monitored to some extent. Governments are beginning to intervene, causing controversy among cryptocurrency users regarding whether regulation is beneficial to the industry. For Bitcoin specifically, some believe the lack of government control is a primary benefit of the technology, whereas others believe Bitcoin cannot reach its full potential without government regulation. This research seeks to discover how Bitcoin owners have reacted to news of increased United States government regulation by comparing Bitcoin’s price before and after the public legislative announcements related to cryptocurrency. The results show that Bitcoin prices are significantly lower in the five days following legislative announcements related to cryptocurrency, suggesting that current owners see decreased value in Bitcoin with increased regulation.
Copyright
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Recommended Citation
Johnson, Walter, "How Bitcoin Price Reacts to United States Government Public Legislation Releases" (2024). Honors Theses. 967.
https://aquila.usm.edu/honors_theses/967