The purpose of this study is to perform a systematic literature review on Bitcoin and unveil its upsides, downside and divergent views from previous studies. The paper presents a systematic literature review of key studies published on Bitcoin between 2008 and 2019. The focus is given to three topics: benefits of Bitcoin; its shortcomings; and divergent views presented by previous cryptocurrency scholars in details. The results indicate that Bitcoin offers four key benefits—its acceptance as a digital currency, effective portfolio diversifier, hedging capabilities and higher security. Literature review revealed five major shortcomings of Bitcoin —weak substitute for traditional currency, higher volatility, idiosyncratic risks, uncertain regulatory impact and its exogenous supply. Finally, the review reveals three major areas wherein cryptocurrency scholars found to have divergent view—acceptance of its hedging capabilities across regions and portfolios, consensus on Bitcoin as highly secured and safe asset and, general acceptance of Bitcoin as a substitute of traditional currencies.
KeywordsCryptocurrencyBitcoinPeer to Peer Electronic Cash System
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