Monetary Policy, COVID-19 and Bitcoin: The Tales of 3 Countries

This chapter focuses on the relationships between Bitcoin price and monetary policy whether the roles of monetary policy still empower the performances of bitcoin or whether bitcoin price, in this digital era, overruns the monetary policy and government control. In the new norms of COVID-19 pandemic, where the electronic transactions and digital transactions and activities turn up to be the necessities, this chapter also explores whether the relationships between monetary policy and Bitcoin could be weaker. The relationships are compared between 8 months before and 8 months during COVID-19 pandemic for the 3 countries: US, China and Malaysia. The authorities are recommended to focus on the acceptance of cryptocurrency or even to establish one nation’s digital currency.