COVID-19 pandemic and the safe haven property of Bitcoin

Ibrahim D. Raheem

Research output: Contribution to journalArticlepeer-review

36 Citations (Scopus)
3 Downloads (Pure)


The commentaries in the literature point out that cryptocurrencies, particularly Bitcoin, provide safe haven features to investors. The advent of COVID-19 pandemic offers a perfect opportunity to test this hypothesis. This study tries to validate this claim by examining the safe haven prowess of Bitcoin against measures of uncertainty (VIX, EPU, and Oil Shock). We further make a comparison between pre-and post-COVID-19 analyses. Results confirm that prior to COVID-19, Bitcoin was able to maintain its widely acknowledged characteristics. However, the post COVID-19 announcement upturned the tides previously identified.

Original languageEnglish
Pages (from-to)370-375
Number of pages6
JournalQuarterly Review of Economics and Finance
Early online date24 Jun 2021
Publication statusPublished - Aug 2021


  • Bitcoin
  • COVID-19
  • Safe haven
  • Uncertainty

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