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Can altcoins act as hedges or safe-havens for Bitcoin?

Li, Y., Lucey, B. and Urquhart, A. ORCID: (2023) Can altcoins act as hedges or safe-havens for Bitcoin? Finance Research Letters, 52. 103360. ISSN 1544-6131

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To link to this item DOI: 10.1016/


Bitcoin remains the most popular cryptocurrency and has attracted significant research attention, especially in the hedging and safe-haven literature. As many investors in bitcoin are concentrated heavily in cryptocurrencies as opposed to other assets, a question arises whether alternative cryp- tocurrencies (altcoins) can used as safe-havens and hedges against Bitcoin? We find that only meme coins offer hedging benefits but a wider range - Defi, meme coins, smart contracts, meta- verse and privacy cryptocurrencies - can all act as safe-havens against bitcoin. We further show that their ability to act as hedges and safe-havens varies depending on whether the market is in a bubble or non-bubble period.

Item Type:Article
Divisions:Henley Business School > ICMA Centre
ID Code:107391


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