---
title: Global Common Volatility Hedge: Bitcoin and Gold
url: https://www.ml-quant.com/papers/ssrn/4566562/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4566562
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4566562
featured: 2023-09-14
citations: unknown
topic: Crypto & DeFi
---


# Global Common Volatility Hedge: Bitcoin and Gold

Bitcoin and Gold: The study reveals that gold is a reliable hedge and safe-haven asset against global volatility, while Bitcoin shows weaker hedging abilities but strong safe-haven potential during extreme situations.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4566562
- Identifier: SSRN 4566562
- Released: 2023-09-09
- First featured: Quant Letter No. 15 (2023-09-14): https://www.ml-quant.com/issues/2023-09-14/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Crypto & DeFi

## Related

- [Bitcoin Gold, Litecoin Silver: An Introduction to Cryptocurrency's Valuation and Trading Strategy](https://www.ml-quant.com/papers/arxiv/2308.00013/): A study confirms the comparison of Bitcoin to gold and Litecoin to silver, highlighting Bitcoin's superior value storage capacity compared to Litecoin.
- [The Impact of Bitcoin ETF Approval on Bitcoin's Hedging Properties Against Traditional Assets](https://www.ml-quant.com/papers/arxiv/2512.12815/): Changing Dynamics with Traditional Assets: In January 2024, the approval of a Bitcoin Spot ETF boosted interest from big investors and made Bitcoin more closely linked to stock markets, while its connections to gold remained steady and its relationship with the U.S. Dollar stayed negative.
- [Crypto Skeptics' Supreme Risk](https://www.ml-quant.com/papers/ssrn/4576608/): The article explores the debate on the classification of crypto assets as commodities or securities, and the potential impact of the Supreme Court's final decision on this matter.
- [Bitcoin's Economic Value: Volatility Timing](https://www.ml-quant.com/papers/ssrn/4606787/): Volatility Timing: A study suggests Bitcoin outperforms gold in a portfolio during dovish monetary policy periods, but loses value during rapid rate hikes.
- [Transmissions Among Assets](https://www.ml-quant.com/papers/ssrn/4912927/): The study examines volatility and return spillovers in a network of variables, emphasizing the portfolio diversification benefits of commodities, fiat currencies, and crypto coins.
- [Determinants of Cryptocurrency Returns](https://www.ml-quant.com/papers/ssrn/4930965/): The study reveals that cryptocurrency returns are significantly affected by fluctuations in advanced country currencies and oil prices, but not by emerging country currencies or global markets.
