0533623 20240103224615.620201028235959.9 85089536942 000561678000001 10.3389/fphy.2020.00296 6 s. E cav_un_epca*05200422296-424X8Frontiers Research Foundation Bitcoin safe haven extreme events COVID-19 coronavirus cav_un_auth*0256902 Krištoufek Ladislav UTIA-B Ekonometrie Department of Econometrics E E Department of Econometrics CZ Ústav teorie informace a automatizace AV ČR, v. v. i. http://library.utia.cas.cz/separaty/2020/E/kristoufek-0533623.pdf https://www.frontiersin.org/articles/10.3389/fphy.2020.00296/full GA20-17295S GA ČR cav_un_auth*0397556 Bitcoin being a safe-haven asset is one of the traditional stories in the cryptocurrency community. However, during its existence and relevant presence, i.e., approximately since 2013, there has been no severe situation on the financial markets globally to prove or disprove this story until the COVID-19 pandemic. We study the quantile correlations of Bitcoin and two benchmarks—the S&P 500 and VIX—and make comparison with gold as the traditional safe-haven asset. The Bitcoin safe haven story is shown and discussed to be unsubstantiated and far-fetched, while gold comes out as a clear winner in this contest even when a broader cryptocurrency index (CRIX) is considered. WOS AH 50000 50200 50201 2021 1 RVO:67985556 http://hdl.handle.net/11104/0312006 1 S 296 1* Article Physics Multidisciplinary A PHYSICS.MULTIDISCIPLINARY 3.330 0.993 2 0.00546 0.957 2800 69 0.754 53.84 3.58 1555 Q2 3.342 587 Q2 76.448 71.5 Q1 Q3 0.73 Q2 71.512 2020 85089536942 SCOPUS PUBMED 000561678000001 WOS cav_un_epca*0520042 Frontiers in Physics 2296-424X 2296-424X Roč. 8 č. 7 2020 Frontiers Research Foundation