Κρυπτονομίσματα από την πλευρά του επενδυτή
Cryptocurrencies: an investor΄s perspective

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Keywords
Κρυπτονομίσματα ; Blockchain ; Spanning test ; Full scale optimization ; In and out of sample ανάλυση ; Utility function ; Cryptocurrencies ; Generalized Method of Moments (GMM)Abstract
Digital coins since their birth have been questioned by a number of economic actors, governments, central banks, bank and business executives, institutional investors as they are not governed by a regulatory framework that will limit and control their range of utility, and their operation. They have also been challenged as financial products since they have a high regulatory risk as governments may introduce laws to control, tax or even prohibit their use. The high variability of cryptocurrencies values also determines the range of potential yields, and their values may be ejected in a short period of time from the lower point to the upper and vice versa. This is why we venture to look into this research by approaching it from the perspective of a traditional investor following an integrated strategic portfolio analysis.