Powering perception, echoing green voices: The interplay of Cryptocurrency's energy footprint and environmental discourse in steering the direction of the market
This study examines the influence of cryptocurrency's environmental footprint on market behavior through an analysis of 66,582 Reddit posts about Bitcoin and 23,231 about Ethereum. Using a vector autoregression (VAR) model, it explores the relationship between social media discussions on enviro...
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| Format: | Article |
| Language: | English |
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Elsevier
2024-12-01
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| Series: | Borsa Istanbul Review |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2214845024001741 |
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| author | Iheb Ghazouani Ines Ghazouani Abdelwahed Omri |
| author_facet | Iheb Ghazouani Ines Ghazouani Abdelwahed Omri |
| author_sort | Iheb Ghazouani |
| collection | DOAJ |
| description | This study examines the influence of cryptocurrency's environmental footprint on market behavior through an analysis of 66,582 Reddit posts about Bitcoin and 23,231 about Ethereum. Using a vector autoregression (VAR) model, it explores the relationship between social media discussions on environmental issues, electricity use, and cryptocurrencies' market dynamics. We find a negative correlation between environmental discussions and Bitcoin volatility. Moreover, real electricity use has a more pronounced impact than social media discussions on both Bitcoin and Ethereum volatility. This indicates that crypto market investors prioritize real-world indicators over information from social media discussions. The study also reveals a bidirectional relationship between Bitcoin volatility and environmental posts, highlighting the complex interplay between market behavior and public discourse on environmental matters in the cryptocurrency domain. These results suggest the need for policies that limit energy consumption due to mining, promote renewable energy, and enhance investor education on environmental impacts to support sustainable practices in the cryptocurrency market. |
| format | Article |
| id | doaj-art-b53698e543564c14be50c586f374f89b |
| institution | Kabale University |
| issn | 2214-8450 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Borsa Istanbul Review |
| spelling | doaj-art-b53698e543564c14be50c586f374f89b2025-01-22T05:42:32ZengElsevierBorsa Istanbul Review2214-84502024-12-012491101Powering perception, echoing green voices: The interplay of Cryptocurrency's energy footprint and environmental discourse in steering the direction of the marketIheb Ghazouani0Ines Ghazouani1Abdelwahed Omri2University of Tunis, High Institute of Management of Tunis, GEF2A-Lab, Le Bardo 2000, Tunis, TunisiaCorresponding author.; University of Tunis, High Institute of Management of Tunis, GEF2A-Lab, Le Bardo 2000, Tunis, TunisiaUniversity of Tunis, High Institute of Management of Tunis, GEF2A-Lab, Le Bardo 2000, Tunis, TunisiaThis study examines the influence of cryptocurrency's environmental footprint on market behavior through an analysis of 66,582 Reddit posts about Bitcoin and 23,231 about Ethereum. Using a vector autoregression (VAR) model, it explores the relationship between social media discussions on environmental issues, electricity use, and cryptocurrencies' market dynamics. We find a negative correlation between environmental discussions and Bitcoin volatility. Moreover, real electricity use has a more pronounced impact than social media discussions on both Bitcoin and Ethereum volatility. This indicates that crypto market investors prioritize real-world indicators over information from social media discussions. The study also reveals a bidirectional relationship between Bitcoin volatility and environmental posts, highlighting the complex interplay between market behavior and public discourse on environmental matters in the cryptocurrency domain. These results suggest the need for policies that limit energy consumption due to mining, promote renewable energy, and enhance investor education on environmental impacts to support sustainable practices in the cryptocurrency market.http://www.sciencedirect.com/science/article/pii/S2214845024001741Q43Q53G14 |
| spellingShingle | Iheb Ghazouani Ines Ghazouani Abdelwahed Omri Powering perception, echoing green voices: The interplay of Cryptocurrency's energy footprint and environmental discourse in steering the direction of the market Borsa Istanbul Review Q43 Q53 G14 |
| title | Powering perception, echoing green voices: The interplay of Cryptocurrency's energy footprint and environmental discourse in steering the direction of the market |
| title_full | Powering perception, echoing green voices: The interplay of Cryptocurrency's energy footprint and environmental discourse in steering the direction of the market |
| title_fullStr | Powering perception, echoing green voices: The interplay of Cryptocurrency's energy footprint and environmental discourse in steering the direction of the market |
| title_full_unstemmed | Powering perception, echoing green voices: The interplay of Cryptocurrency's energy footprint and environmental discourse in steering the direction of the market |
| title_short | Powering perception, echoing green voices: The interplay of Cryptocurrency's energy footprint and environmental discourse in steering the direction of the market |
| title_sort | powering perception echoing green voices the interplay of cryptocurrency s energy footprint and environmental discourse in steering the direction of the market |
| topic | Q43 Q53 G14 |
| url | http://www.sciencedirect.com/science/article/pii/S2214845024001741 |
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