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Les cryptomonnaies permettent-elles la diversification au sein d¿un portefeuille européen diversifié ?

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Tartoras, Matheo ULiège
Promotor(s) : Langlois, Patrice ULiège
Date of defense : 17-Jan-2024/26-Jan-2024 • Permalink : http://hdl.handle.net/2268.2/19595
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Title : Les cryptomonnaies permettent-elles la diversification au sein d¿un portefeuille européen diversifié ?
Translated title : [fr] Les cryptomonnaies permettent-elles la diversification au sein d’un portefeuille européen diversifié ?
Author : Tartoras, Matheo ULiège
Date of defense  : 17-Jan-2024/26-Jan-2024
Advisor(s) : Langlois, Patrice ULiège
Committee's member(s) : Piron, Thibault 
Language : French
Number of pages : 72
Keywords : [fr] Cryptomonnaie
[fr] Crypto
[fr] Bitcoin
[fr] Diversification
[fr] Portefeuille
[fr] Portfolio
[fr] Européen
[fr] European
[fr] Marché
[fr] Market
Discipline(s) : Business & economic sciences > Finance
Target public : Researchers
Professionals of domain
Student
General public
Institution(s) : Université de Liège, Liège, Belgique
Degree: Master en sciences de gestion, à finalité spécialisée en Banking and Asset Management
Faculty: Master thesis of the HEC-Ecole de gestion de l'Université de Liège

Abstract

[en] This thesis provides a comprehensive analysis of Bitcoin's role in diversifying European investment portfolios. It delves into Bitcoin's distinct characteristics, notably its low correlation with traditional assets, and assesses its potential as a diversification tool. The research highlights the pronounced volatility and unpredictability inherent in cryptocurrencies, particularly evident during the COVID-19 crisis. The methodology encompasses a comparative analysis of portfolios with and without Bitcoin over various periods, primarily relying on historical data. Key limitations include the exclusion of transaction costs and the reliance on historical trends, which may not predict future performance. The conclusion indicates that while Bitcoin can contribute to portfolio diversification, its inclusion does not significantly enhance portfolio performance except in certain conditions, like the post-COVID era. Future research avenues include exploring a broader array of cryptocurrencies, assessing their long-term impact, understanding the implications of regulatory shifts, and examining alternative investment strategies. The findings resonate with Warren Buffett's cautious stance on the speculative nature of cryptocurrencies and acknowledge the current uncertainties about their disruptive potential.


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Author

  • Tartoras, Matheo ULiège Université de Liège > Master sc. gest., fin. spéc. banking & asset man.

Promotor(s)

Committee's member(s)

  • Piron, Thibault
  • Total number of views 32
  • Total number of downloads 4










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