In the ever-evolving digital age, Bitcoin has gained prominence as a global cryptocurrency, raising fundamental questions about its nature and its potential role as a store of value. Concurrently, gold has maintained its status as a store of value for centuries, serving as an indispensable reference point in investment strategies. This research aims to explore the central question arising from this evolving scenario: "Can Bitcoin legitimately be considered the digital equivalent of gold?" The course of this investigation will be divided into three distinct chapters: Chapter 1: "Introduction to Gold as a Store of Value" will provide a historical and conceptual context for gold as a "safe-haven asset," starting from its millennia-old history, exploring its intrinsic characteristics, including durability, rarity, and its long-standing history as a store of value. We will also analyze its role in investment strategies, demonstrating how gold continues to be a significant component in portfolio diversification theory. Chapter 2: "Introduction to Cryptocurrencies and Bitcoin" will examine the historical and conceptual context in which cryptocurrencies were born, highlighting their evolution and their impact on the global financial and technological landscape, exploring concepts such as decentralization and blockchain technology. Finally, in Chapter 3: "Comparative Analysis between Bitcoin and Gold," we will conduct an in-depth analysis of the two assets, evaluating risk and volatility using empirical data and their correlation with major market indices. This will allow us to assess the relative stability of Bitcoin compared to gold and provide valuable insights into how both assets may behave in diverse market scenarios. In summary, this study aims to shed light on a topic of growing relevance in the contemporary financial and technological landscape, seeking to address the question of whether Bitcoin can be considered a form of "digital gold." Through a comprehensive and in-depth examination of the characteristics, prospects, and risks associated with both assets, we intend to contribute to a better understanding of the implications of this evolution in the world of investments and value preservation.
Nell'epoca digitale in costante evoluzione, il Bitcoin ha acquisito una posizione di rilievo come criptovaluta di portata globale, suscitando domande fondamentali sulla sua natura e sul possibile ruolo quale riserva di valore. In contemporanea, l'oro ha mantenuto il suo status di riserva di valore per secoli, costituendo un punto di riferimento imprescindibile nelle strategie di investimento. Questa ricerca si pone l'obiettivo di esplorare la domanda centrale che emerge da questo scenario in evoluzione: "Il Bitcoin può legittimamente essere considerato l'equivalente digitale dell'oro?" Il percorso di questa indagine sarà articolato in tre capitoli distinti: Nel Capitolo 1: “Introduzione all’oro come riserva di valore", forniremo un contesto storico e concettuale sull’oro come “bene rifugio”, partendo dalla sua storia millenaria, esplorando le sue caratteristiche intrinseche, tra cui la durabilità, la rarità e la sua longeva storia come riserva di valore. Analizzeremo anche il suo ruolo nelle strategie di investimento, dimostrando come l’oro continui ad essere una componente importante nella teoria di diversificazione del portafogli. Nel Capitolo 2: “Introduzione alle criptovalute e al Bitcoin”, esamineremo il contesto storico e concettuale nella quale sono nate le criptovalute, mettendo in luce la loro evoluzione e il loro impatto nel panorama finanziario e tecnologico globale, esplorando concetti, tra cui la decentralizzazione e la tecnologia blockchain. Infine, nel Capitolo 3: “Analisi comparativa tra Bitcoin e Oro”, condurremo un’analisi approfondita tra i 2 asset, valutando il rischio e la volatilità utilizzando dati empirici e la correlazione con i principali indici di mercato. Questo ci permetterà di valutare la stabilità relativa del Bitcoin rispetto all'oro e fornire indicazioni preziose su come entrambi gli asset potrebbero comportarsi in scenari di mercato diversificati. In sintesi, questo studio si propone di gettare luce su una tematica di crescente rilevanza nel panorama finanziario e tecnologico contemporaneo, cercando di rispondere all'interrogativo se il Bitcoin possa essere considerato una forma di "oro digitale." Attraverso un'indagine articolata e approfondita delle caratteristiche, delle prospettive e dei rischi associati a entrambi gli asset, intendiamo contribuire a una migliore comprensione delle implicazioni di questa evoluzione nel mondo degli investimenti e della conservazione del valore.
Bitcoin: l'oro virtuale del 21° secolo?
MONUTTI, GIACOMO
2022/2023
Abstract
In the ever-evolving digital age, Bitcoin has gained prominence as a global cryptocurrency, raising fundamental questions about its nature and its potential role as a store of value. Concurrently, gold has maintained its status as a store of value for centuries, serving as an indispensable reference point in investment strategies. This research aims to explore the central question arising from this evolving scenario: "Can Bitcoin legitimately be considered the digital equivalent of gold?" The course of this investigation will be divided into three distinct chapters: Chapter 1: "Introduction to Gold as a Store of Value" will provide a historical and conceptual context for gold as a "safe-haven asset," starting from its millennia-old history, exploring its intrinsic characteristics, including durability, rarity, and its long-standing history as a store of value. We will also analyze its role in investment strategies, demonstrating how gold continues to be a significant component in portfolio diversification theory. Chapter 2: "Introduction to Cryptocurrencies and Bitcoin" will examine the historical and conceptual context in which cryptocurrencies were born, highlighting their evolution and their impact on the global financial and technological landscape, exploring concepts such as decentralization and blockchain technology. Finally, in Chapter 3: "Comparative Analysis between Bitcoin and Gold," we will conduct an in-depth analysis of the two assets, evaluating risk and volatility using empirical data and their correlation with major market indices. This will allow us to assess the relative stability of Bitcoin compared to gold and provide valuable insights into how both assets may behave in diverse market scenarios. In summary, this study aims to shed light on a topic of growing relevance in the contemporary financial and technological landscape, seeking to address the question of whether Bitcoin can be considered a form of "digital gold." Through a comprehensive and in-depth examination of the characteristics, prospects, and risks associated with both assets, we intend to contribute to a better understanding of the implications of this evolution in the world of investments and value preservation.File | Dimensione | Formato | |
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https://hdl.handle.net/20.500.12608/61116