The impact of digitalization on cryptocurrency assets: An application on G20 countries

Digitalization has not only digitized information but also closely affected the financial system through the adoption of digital technologies. In recent years, alongside the changes brought about by digitalization, there has been an increasing interest in crypto assets. The process of digitalization can influence crypto asset prices in various ways. Firstly, digitalization can accelerate the development of financial technologies, thereby enabling wider access to crypto assets. Increased adoption of crypto assets can lead to higher demand, thus potentially increasing their prices. Additionally, advancements in digitalization and financial technologies can increase the transaction volume and liquidity of crypto assets, contributing to price stability and healthier market operations. This thesis examines the impact of digitalization on crypto assets. Within the scope of this thesis, the relationship is analyzed using panel data analysis for G20 countries during the period of 2014-2021. The analysis results indicate that digitalization positively affects crypto asset prices. Taking into account the positive impact of digitalization data on crypto asset prices, policy recommendations such as strengthening risk management strategies, regulating digital asset trading platforms, and increasing investor education levels can contribute to the establishment of a healthy and reliable structure for the crypto asset market.