A recent scientific study has been released that explores the characteristics of people who invest in cryptocurrencies. The study suggests a correlation between owning digital assets and displaying traits of narcissism, psychopathy, and sadism. Additionally, crypto investors are more likely to be argumentative, believe in conspiracy theories, and rely on alternative social media platforms for news.
The study, which included 2,000 American adults, found that about 30% of participants had bought or sold cryptocurrencies in the past. Researchers noted that the creation of Bitcoin was rooted in a strong distrust of traditional financial institutions, which is associated with conspiracy thinking and anti-science attitudes.
One key hypothesis from the study is that those who invest in Bitcoin exhibit lower levels of analytic thinking, leading to higher levels of anxiety, depression, loneliness, and stress. The constant monitoring of volatile markets can contribute to impulsive behaviors and feelings of loneliness among crypto investors.
Furthermore, the study revealed that crypto owners often get their news from alternative social media platforms like Telegram, Reddit, and Truth Social, as traditional media outlets provide limited coverage of digital assets. The typical cryptocurrency owner is more likely to be male, have a higher income, and feel victimized by perceived unfairness in life.
The researchers emphasized the need for further research to determine whether these correlations are coincidental and to explore the motivations behind investing in cryptocurrencies. Despite the study’s findings, it is important to recognize that crypto investors have diverse backgrounds and reasons for participating in the market.
While the study highlights certain characteristics of crypto investors, it fails to capture the full spectrum of individuals involved in the space. From Latin American consumers seeking financial stability to individuals looking for cheaper cross-border transactions, the reasons for owning cryptocurrencies vary widely. The crypto community is diverse, with differing opinions and motivations driving participation in the market.
Overall, while the study sheds light on some trends among crypto investors, it is essential to recognize the complexity and diversity within the crypto community. The motivations for investing in digital assets are multifaceted and cannot be generalized based on a few characteristics identified in a single study.