A bibliometric review of cryptocurrencies as a financial asset

Raja Nabeel Ud Din Jalal, Ilan Alon, Andrea Paltrinieri

Research output: Contribution to journalArticlepeer-review

50 Scopus citations


Within a decade, cryptocurrencies have captured significant attention. After Bitcoin's emergence in 2008, new cryptocurrencies started to enter the financial market. We use bibliometric analysis to explore the cryptocurrency literature in the areas of business and management. We review and analyze 464 research articles through bibliometric measurements and social network analysis using Biblioshiny in R. Our study highlights the most influential authors, institutions, countries, and studies. Using the results of the social network analysis of the authors and countries, we illustrate the co-authorship and collaboration among authors from various countries at the institutional level and demonstrate how they have expanded the knowledge in this area. We identify four streams in the current cryptocurrency literature: (i) the determinants of cryptocurrency returns, (ii) the efficiency of cryptocurrencies, (iii) tests of portfolio diversification and sheep flock behaviour and (iv) the regulation, governance, and socio-economic impact of cryptocurrencies. Finally, we present an agenda for future research in the field.

Original languageEnglish
JournalTechnology Analysis and Strategic Management
StateAccepted/In press - 2021
Externally publishedYes


  • Bibliometric review
  • Bitcoin
  • asset class
  • cryptocurrencies
  • literature review


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