Christopher Henry - Latest

• The Role of Beliefs in Entering and Exiting the Bitcoin Market

  Staff Working Paper 2024-22 Daniela Balutel, Christopher Henry, Jorge Vásquez, Marcel Voia

  We develop a model that links investors’ decisions to enter or exit the Bitcoin market with their beliefs about the survival of Bitcoin. Empirical testing using Canadian data reveals that beliefs strongly influence both entries and exits, and this impact varies with time and ownership status.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): D, D8, D83, E, E4, E41, O, O3, O33

• Private Digital Cryptoassets as Investment? Bitcoin Ownership and Use in Canada, 2016-2021

  Staff Working Paper 2022-44 Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, Marcel Voia

  We report on the dynamics of Bitcoin awareness and ownership from 2016 to 2021, using the Bank of Canada's Bitcoin Omnibus Surveys (BTCOS). Our analysis also helps understand Bitcoin owners who adopted during the COVID-19 and how they differ from long-term owners. 

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, E, E4, O, O5, O51

• Cash in the Pocket, Cash in the Cloud: Cash Holdings of Bitcoin Owners

  Staff Working Paper 2022-26 Daniela Balutel, Christopher Henry, Kim Huynh, Marcel Voia

  We estimate the effect that owning Bitcoin has on the amount of cash held by Canadian consumers. Our results question the view that adopting certain new technologies, such as Bitcoin, leads to a decline in cash holdings.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, E, E4, O, O3, O33, O5, O51

• Bitcoin Adoption and Beliefs in Canada

  Staff Working Paper 2021-60 Daniela Balutel, Christopher Henry, Jorge Vásquez, Marcel Voia

  Using an economic model as well as survey data from the Bank of Canada, we study what factors influence the adoption of Bitcoin in Canada.

  Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Econometric and statistical methods, Economic models JEL Code(s): D, D8, D83, O, O3, O33

• Bitcoin Awareness and Usage in Canada

  Staff Working Paper 2017-56 Christopher Henry, Kim Huynh, Gradon Nicholls

  There has been tremendous discussion of Bitcoin, digital currencies and FinTech. However, there is limited empirical evidence of Bitcoin’s adoption and usage. We propose a methodology to collect a nationally representative sample using the Bitcoin Omnibus Survey (BTCOS) to track the ubiquity and usage of Bitcoin in Canada.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, E, E4