Shashwat Gangwal, an academic at the Indian Institute of Technology, published a paper called ‘Analyzing the Effects of Adding Bitcoin to [a] Portfolio’ in Volume 10 of the World Academy of Science, Engineering, and Technology International Journal in late 2016. The topic of investigation; what is the impact of adding bitcoin to various portfolios such as stock, bonds, gold, real estate and crude oil? Gangwal uses data from July 2010 to August 2016 to show that adding bitcoin to each portfolio would have resulted in a higher Sharpe ratio...
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