ANÁLISE COMPARATIVA DE RISCO E RETORNO DO BITCOIN EM RELAÇÃO ÀS AÇÕES BRASILEIRAS MAIS NEGOCIADAS EM 2018, PRINCIPAIS MOEDAS DO CÂMBIO MUNDIAL E MAIORES CRIPTOMOEDAS EM VALOR DE MERCADO

Abstract

The article that published Bitcoin, the first digital currency not brokered by a financial agent, turned 10 years old in 2018. Since its initial perception of monetary value, cryptocurrency has become increasingly known and used around the world. In 2017, Brazil's cryptocurrency market saw Bitcoin's share price and turnover increase, making it another investment option for society. In this scenario, the present study presents a comparative analysis between Bitcoin, the three cryptocurrencies with the highest market value in the cryptoeconomics, the five stocks with the largest trading volume in the Brazilian stock market in 2018 and the international currencies with the largest trading volume world exchange rate. The methodology used was the Sharpe Ratio, which calculates the relationship between the return and volatility of financial assets, which are fundamental factors for decision making in choosing investments. As a result, this study presents the positioning of the Bitcoin Sharpe Index in relation to the other selected assets, with the respective weightings of the risk-return ratio, characterizing it as a speculative asset.