مجلة النمو الاقتصادي والمقاولاتية
Volume 6, Numéro 2, Pages 36-47
2023-05-27
The Impact Of The Money Supply Of Cryptocurrencies On Monthly Inflation In The Usa - January 2010 To July 2022
Authors : Bendiba Yamina .
Abstract
Four decades ago, the monetary authority in the United States of America was able to control inflation rates, which sometimes knew negative rates, but has not known similar rates like those it has known since April 2021. This research examines the relationship between inflation in the United States of America - which has not known similar rates like those it has known since April 2021 - with the Bitcoin money supply being the most traded cryptocurrency from January 2020 to July 2022, Based on the correlation coefficient, the Johansen-Jeselius cointegration test, in addition to the Granger Causality Test, the results of statistical and standard studies of these tests have been proven.and we have found through the standard study that there is a strong positive relationship between the two variables, and that the change in the trading volume of Bitcoin significantly affects inflation rates in the United States. This is based on monthly data for both Bitcoin trading volume as the most traded and accepted digital currency, and the consumer price index in the United States of America as the best measure that can be relied upon to express the change in the rate of inflation. While the study proved that there is no significant impact of the inflation rate on the supply of traded bitcoins.
Keywords
Digital currency Bitcoin Blockchain Money supply Inflation
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