隨著網路及科技日新月異的發展之下，自2008年以來，短短幾年內，虛擬加密貨幣在網路上漸漸盛行崛起，其具有去中心化之特性，不需要依賴特定機構發行。由於比特幣為最早出現及最具規模的虛擬加密貨幣，且比特幣投資者遍佈全球，而本文所研究之地區為美國、日本、中國、韓國等國家及歐洲，自2013年10起，比特幣價格產生劇烈波動，因此，本研究係使用事件研究法探討自2012年10月至2019年3月，各國中央銀行發布訊息對比特幣報酬變動之關係。而本研究之預期結果為中央銀行發佈比特幣之相關訊息前，產生正向異常報酬，而中央銀行發佈比特幣之相關訊息後，則產生負向之異常報酬。
Following the ever-changing development of network and science and technology, digital currency has gradually risen in popularity in just a few short years since 2008. They are characterized by decentralization, with no need to rely on particular institutions. Bitcoin is the earliest appearance and the largest of the virtual currency, with many Bitcoin investors all over the world. This study made the trades actively with countries such as the United States, Japan, China, South Korea and Europe, etc. Since October 2013, the price of Bitcoin has gone through some drastic fluctuations. Therefore, this study used the Market model method to explore the relationship between messages issued by Central Banks in various countries and Bitcoin’s price volatility during the period from 2012-2018. The expected result is that Before the Central Bank issues the relevant information of Bitcoin, it will generate positive abnormal remuneration. After the Central bank issues the relevant information of Bitcoin, it will generate negative abnormal remuneration.
