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According to a study, cryptocurrency investors have worrying personality traits!
20:36 ▪ 3 minute read ▪ by Luc Jose A.
In a world where cryptocurrencies are often seen as the symbol of financial revolution, a new study reveals a less glorious side to their owners. Conducted by researchers from the University of Toronto and Miami, this survey highlights worrying personality traits among cryptocurrency holders. Narcissism, Machiavellianism, psychopathy and sadism: these traits, known as the “Dark Tetrad,” seem to predominate among those who invest in these digital assets. These findings, published in the scientific journal PLOS One, raise essential questions about the psychological profile of cryptocurrency investors and the deep motivations that drive them to these high-risk investments.
The results of the study
A recent study published in the scientific journal PLOS One, led by Shane Littrell of the University of Toronto, as well as Casey Klofstad and Joseph Uscinski of the University of Miami, reveals disturbing personality traits among cryptocurrency investorsResearchers surveyed 2,001 American adults in 2022 and found that a third of them owned or had owned cryptocurrency.
The study found a significant correlation between cryptocurrency ownership and the presence of so-called “dark” personality traits, namely narcissism, Machiavellianism, psychopathy, and sadism, collectively referred to as the “Dark Tetrad.”
The authors of the study They also noted that cryptocurrency holders are predominantly male, with a marked aversion to authoritarianism. This diverse psychological and sociopolitical profile contradicts the widespread belief that cryptocurrencies are primarily the domain of the far right.
Cryptocurrency Investors: Between Conspiracy and Risk-Taking
According to the study, cryptocurrency investors have a marked preference for alternative social media platforms such as Telegram, Truth Social, and Reddit, compared to traditional media. The researchers note that this preference for alternative news channels is one of the strongest predictors of cryptocurrency ownership. Similarly, belief in conspiracy theories is significantly more common among cryptocurrency investors, which may exacerbate their aversion to authoritarianism and make them more likely to engage in risky financial behavior.
Additionally, researchers estimate that cryptocurrency holders are often men with an argumentative attitude and above-average income. These traits, combined with their narcissistic, Machiavellian, psychopathic, and sadistic tendencies, push them into unconventional and potentially dangerous financial behavior. This combination of psychological and behavioral factors may increase their risk tolerance, pushing them to invest aggressively in volatile assets like cryptocurrencies.
Ultimately, while rigorous, this shocking study is based on correlations that do not necessarily apply to all investors. Many cryptocurrency holders may invest responsibly and not display the psychological characteristics mentioned. Therefore, these results should be interpreted with caution and not generalized to the entire cryptocurrency investing community.
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Luke Jose A.
Graduated in Sciences Po Toulouse and owner of a blockchain certification consultant issued by Alyra, I resumed the Cointribune adventure in 2019. Aware of the potential of blockchain to transform many sectors of the economy, I made a commitment to raise awareness and inform the general public about this constantly evolving ecosystem. My goal is to enable everyone to better understand blockchain and take advantage of the opportunities it offers. I strive every day to provide an objective analysis of current events, to decipher market trends, to convey the latest technological innovations and to put in perspective the investors and companies that are facing this ongoing revolution.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Do your own research before making any investment decisions.