The Intraday Bitcoin Response to Tether Minting and Burning Events: Asymmetry, Investor Sentiment, and “Whale Alerts” on Twitter
| dc.contributor.author | Saggu A. | |
| dc.contributor.other | Mahidol University | |
| dc.date.accessioned | 2023-06-22T10:41:54Z | |
| dc.date.available | 2023-06-22T10:41:54Z | |
| dc.date.issued | 2022-10-01 | |
| dc.description.abstract | Tether Limited has the sole authority to create (mint) and destroy (burn) Tether stablecoins (USD₮). This paper investigates Bitcoin's response to USD₮ supply change events between 2014 and 2021 and identifies an interesting asymmetry between Bitcoin's responses to USD₮ minting and burning events. Bitcoin responds positively to USD₮ minting events over 5- to 30-minute event windows, but this response begins declining after 60 minutes. State-dependence is also demonstrated, with Bitcoin prices exhibiting a greater increase when the corresponding USD₮ minting event coincides with positive investor sentiment and is announced to the public by data service provider, Whale Alert, on Twitter. | |
| dc.identifier.citation | Finance Research Letters Vol.49 (2022) | |
| dc.identifier.doi | 10.1016/j.frl.2022.103096 | |
| dc.identifier.issn | 15446123 | |
| dc.identifier.scopus | 2-s2.0-85133195313 | |
| dc.identifier.uri | https://repository.li.mahidol.ac.th/handle/20.500.14594/87527 | |
| dc.rights.holder | SCOPUS | |
| dc.subject | Economics, Econometrics and Finance | |
| dc.title | The Intraday Bitcoin Response to Tether Minting and Burning Events: Asymmetry, Investor Sentiment, and “Whale Alerts” on Twitter | |
| dc.type | Article | |
| mu.datasource.scopus | https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85133195313&origin=inward | |
| oaire.citation.title | Finance Research Letters | |
| oaire.citation.volume | 49 | |
| oairecerif.author.affiliation | Mahidol University |