Tail dependence between bitcoin and green financial assets
利用时变最优Copula方法，研究了比特币与绿色金融资产之间的极端依赖结构，发现依赖关系具有非对称和时变特征，且绿色资产（尤其是清洁能源）能有效对冲比特币风险。
The high power consumption of Bitcoin transactions has raised environmental and sustainable concerns of green investors and regulatory bodies. We utilize the time-varying optimal copula (TVOC) approach to showcase the dependence structure between bitcoin and green financial assets. We find multiple tail-dependence regimes characterize the extreme dependence between bitcoin and green financial assets, and the dependence structure is mainly asymmetric and time-varying. Finally, the hedging effectiveness of green financial assets for bitcoin revealed that all green assets, especially clean energy, are effective hedges for bitcoin.