Kryptoměny jako možnost investování

Abstract

This bachelor thesis focuses on the characteristics of cryptocurrencies as an investment instrument and their comparison with stock indices and gold. The aim of the thesis is to evaluate the profitability and risk of selected cryptocurrencies, specifically Bitcoin, Ethereum, Solana, and Dogecoin, in contrast to the indices US500, DAX, TOPIX, MSCI, and gold. To achieve this goal, indicators such as total return and geometric average return are used. Risk is assessed using measures including volatility, the Sortino ratio, and maximum drawdown. The thesis also includes an analysis of Bitcoin’s market cycles. In conclusion, it provides recommendations for different types of investors regarding the inclusion of cryptocurrencies in investment portfolios based on their risk tolerance.