Can we stabilize the price of a cryptocurrency? Understanding the design of bitcoin and its potential to compete with central bank money

Mitsuru Iwamura, Yukinobu Kitamura, Tsutomu Matsumoto, Kenji Saito

Research output: Contribution to journalArticle

4 Citations (Scopus)


Although Bitcoin was designed as a payment vehicle and as a store of value, it seems unlikely that currencies provided by central banks are at risk of being replaced, primarily because of the market price instability of Bitcoin. We diagnose the instability as being a symptom of the lack of flexibility in the Bitcoin supply schedule - a predetermined algorithm

Original languageEnglish
Pages (from-to)41-60
Number of pages20
JournalHitotsubashi Journal of Economics
Issue number1
Publication statusPublished - 2019 Jan 1


ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

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