o:28759 Are Gold and Bitcoin a Safe Haven for European Indices? en Abstract: Numerous turbulent events in the recent past have raised the issue of an asset that could play the role of safe haven. Although for many years it was considered that gold has the role of a safe ha- ven, an increasing number of recent works challenge such a point of view. The emergence of cryptocurrencies after the Global financial crisis has opened up numerous questions, one of them being whether cryptocurrencies, as an asset (money) independent of governments, can play the role of safe haven. Therefore, the paper examines wheth- er gold and bitcoin, the latter as the best representative of crypto- currencies, can play the role of safe haven in relation to European indices. In the paper, this hypothesis was confirmed for gold and rejected for bitcoin. Keywords: Safe Haven, Gold, Bitcoin, European indices 1552099 10.2478/jcbtp-2023-0002 1552101 1800-9581 2023-04-11T11:00:10.852Z 44 no 46 Nikola Fabris Univerzitet u Beogradu Ekonomski fakultet 12815463 0000-0001-9500-1943 Milutin Ješić Univerzitet u Beogradu Ekonomski fakultet person 36251495 0000-0002-0715-3064 application/pdf 2095834 https://phaidrabg.bg.ac.rs/o:28759 no yes 16 70 92000001 11A03 Journal of Central Banking Theory and Practice, 12 1 27 44 2023