Marcel Voia

Author

Staff discussion papers

Bitcoin Awareness, Ownership and Use: 2016–20

Staff Discussion Paper 2022-10 Daniela Balutel, Marie-Hélène Felt, Gradon Nicholls, Marcel Voia
In this paper, we examine trends in Canadian ownership of Bitcoin and other cryptocurrencies from 2016 to 2020 using data from surveys conducted by the Bank of Canada.
Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, E, E4, O, O5, O51

See More

Staff working papers

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

Consumer Cash Withdrawal Behaviour: Branch Networks and Online Financial Innovation

Staff Working Paper 2021-28 Heng Chen, Matthew Strathearn, Marcel Voia
The physical network of bank branches is important in how consumers manage their cash holdings. This paper estimates how consumer withdrawal behaviour responds to the distance they must travel to their branch.
Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech JEL Code(s): G, G2, G21, R, R2, R22

See More

Bank publications

Financial System Hub articles

October 12, 2022

Five things we learned about Canadian Bitcoin owners in 2021

Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, Marcel Voia
We present key findings from the 2021 Bitcoin Omnibus Survey on Canadians’ awareness and ownership of Bitcoin. Most Canadians have heard of Bitcoin, which remains primarily used as an investment. Ownership jumped in 2021, reflecting increased savings during the pandemic and greater availability of user-friendly platforms to buy Bitcoin.
Content Type(s): Publications, Financial System Hub articles JEL Code(s): C, C1, C12, E, E4, O, O5, O51

See More