The Effects of Cryptocurrency Wealth on Household Consumption and Investment

Authors

• Darren Aiello, Brigham Young University - ProvoFollow
• Scott R. Baker, Northwestern University
• Tetyana Balyuk, Emory University
• Marco Di. Maggio, Harvard University
• Mark Johnson, Brigham Young University - Provo
• Jason Kotter, Brigham Young University - Provo
• Emily Williams, Harvard University

Keywords

cryptocurrency, portfolio, bank data

Abstract

We use bank transaction data from millions of U.S. households to:

1. Characterize retail crypto traders
2. Explore the drivers of crypto adoption
3. Examine the effect of crypto wealth on consumption and investment
4. Document spillovers of crypto wealth to the local economy

BYU ScholarsArchive Citation

Aiello, Darren; Baker, Scott R.; Balyuk, Tetyana; Maggio, Marco Di.; Johnson, Mark; Kotter, Jason; and Williams, Emily, "The Effects of Cryptocurrency Wealth on Household Consumption and Investment" (2023). Faculty Publications. 9135.
https://scholarsarchive.byu.edu/facpub/9135

Document Type

Presentation

Publication Date

2023

Language

English

College

Marriott School of Business

Department

Finance

University Standing at Time of Publication

Assistant Professor

Copyright Use Information

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