Study Shows Crypto Investors Associated with ‘Dark’ Traits and Conspiracy Beliefs
By Shalini Nagarajan
Updated: July 4, 2024, 04:47 EDT
Investing in cryptocurrency may be connected to personality traits such as narcissism, Machiavellianism, psychopathy, and sadism, according to a recent study conducted by academics.
The study, conducted by Shane Littrell, Casey Klofstad, and Joseph E. Uscinski, also found a correlation between crypto investment and certain demographics.
The researchers, who have backgrounds in political science, surveyed over 2,000 American adults to gain insights into crypto ownership. Approximately one-third of the respondents admitted to currently owning or previously owning cryptocurrency.
In analyzing the data, the researchers explored demographics, political views, personality traits, and social media habits to identify factors influencing cryptocurrency investment.
The study revealed that crypto investors tend to be male and are attracted to alternative social media platforms. They also hold conspiracy beliefs and feel marginalized by the system.
Furthermore, the study found that crypto investors generally have slightly higher incomes and harbor a sense of injustice in their lives. They exhibit distrust towards traditional news sources and instead rely on platforms like Telegram, YouTube, Reddit, Twitter, and blogs for their political, current events, and social issue news.
The study also indicated that crypto investors often engage in passionate debates and reject centralized control. They value open discussions and resist being told what to do.
Interestingly, the study showed that crypto investors do not fit into traditional left or right political categories, reflecting the global trend of anti-establishment attitudes and unconventional behaviors.
In addition, the study highlighted a potential link between crypto ownership and problem gambling. However, its association with other negative tendencies, such as impulsiveness, paranoia, and aggression, remains unknown.
The study also discovered that crypto ownership is more likely to be associated with supporting extremist groups and aligning with populist ideas.
Overall, these findings open up avenues for further research into the characteristics and behaviors of individuals involved in cryptocurrency trading, reflecting the broader global trend of anti-establishment attitudes and unconventional behaviors.
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