Niranjan Sapkota is a full-time PhD student and a project researcher in finance at the University of Vaasa, Finland. His research focuses on fintech and digital finance, specializing in cryptocurrencies and initial coin offerings with some published papers in highly ranked finance and economics journals such as Economics Letters, Finance Research Letters, and Applied Economics. His interests are also in the area of market microstructure, algorithmic trading, and high-frequency trading. His research articles have been covered by the prestigious US business magazine, Forbes, and many other popular fintech sites like cointelegraph.com, medium.com, coinbet.com, etc. He has been awarded with a research grant of EUR 50,000 from the Foundation for Economic Education for a project related to fintech together with his PhD supervisor. Besides his research works Mr. Sapkota has been assisting on different courses, including master's and bachelor's thesis supervision.
The authors employ portfolio analysis to explore whether energy is a fundamental economic factor affecting cryptocurrency prices.