Digital currency as a component of the global digital economy = Цифрова валюта як складова глобальної цифрової економіки

Abstract

Recently, virtual currency or digital money has become widespread in the world economy. The purpose of the research is to try to explain the reasons for the emergence of electronic money, their role, benefits, and risks to the global digital economy from the standpoint of syncretic logic. The value of Bitcoin USD (BTCUSD) in the financial market for the period 17.09.2014 - 30.11.2021 has been used in the research. Based on the closing price, profitability and volatility for different time periods are calculated in order to quantify the risks of new digital currencies. The results attest to the fact that in the digital economy, separate segments of the digital payment instruments market are developing, where specific information is sold and bought, designed to meet specific consumer needs and is not suitable for use as a general equivalent. On the other hand, the practice of using digital monetary units has not yet become so widespread that would allow considering them not as a surrogate for money, but as an independent form of money and collecting empirical material necessary and sufficient for analysis. The cryptocurrency market is growing rapidly forasmuch as the financial product, bitcoin, is popular with investors, the demand for which is growing significantly. It has been revealed that bitcoin acts as an object of purchase and sale in the financial market, the value of which is established thanks to another common equivalent, in particular, the US dollar. Along with this, the profitability level fluctuates significantly, and volatility depends on market conditions and various environmental factors, fluctuating significantly with the slightest changes. The dynamics of prices indicate a gradual increase in the value of the cryptocurrency, despite the fall in its price, depending on various factors. The growing popularity of the currency is evidenced by the expansion of its issue volume and the growth of the market as a whole.

Останнім часом у світовій економіці набули поширення віртуальні валюти або цифрові гроші. Мета дослідження – спробувати пояснити причини появи електронних грошей, їх роль, переваги та ризики для глобальної цифрової економіки з позицій синкретичної логіки. У дослідженні була використана вартість Bitcoin USD (BTCUSD) на фінансовому ринку за період 17.09.2014 - 30.11.2021. На основі ціни закриття розраховується прибутковість і волатильність для різних періодів часу, щоб кількісно визначити ризики нових цифрових валют.