Understanding the Personality Traits of Crypto Holders
A recent study conducted by researchers from the University of Toronto and the University of Miami delved into the unique personality traits exhibited by individuals who own cryptocurrencies. The study surveyed 2001 American adults in 2022 to explore the political, psychological, and social characteristics associated with cryptocurrency ownership.
- The research revealed that approximately 30% of the participants surveyed owned some form of cryptocurrency.
- This group displayed a tendency to believe in conspiracy theories.
- They also exhibited what are known as “dark tetrad” personality characteristics, including narcissism, Machiavellianism, psychopathy, and sadism.
What Defines a Crypto Holder?
According to the findings of the study, certain key characteristics were identified that strongly predicted cryptocurrency ownership:
- Being male
- Relying on alternative or fringe social media platforms for news
- Argumentativeness
- An aversion to authoritarianism
“The variables that most strongly predict cryptocurrency ownership are being male, relying on alternative/fringe social media as one’s primary news source, argumentativeness, and an aversion to authoritarianism,” the study added.
Interestingly, the research gained traction when it was recently shared online by noted Bitcoin critic and Johns Hopkins Economics Professor Steve Hanke. Prof. Hanke pointed out that crypto holders demonstrated lower levels of analytical and scientific thinking and were more likely to exhibit psychopathic tendencies based on the study’s results.
This study’s results resonate with previous research conducted by scientists at Queensland University of Technology in 2022, which found correlations between psychopathy and sadism with the fear of missing out (FOMO) experienced by crypto investors.
The Wealth and Education of Crypto Owners
Among the various personality attributes associated with Bitcoin holders, the study uncovered a range of characteristics, including:
- A predisposition towards chaos
- Dogmatism
- Victimhood mentality
- Psychological reactance
Moreover, the study revealed certain positive aspects related to crypto owners:
“Cryptocurrency owners are largely more educated, have a higher income, and are more religious than those who have never owned cryptocurrency,” the study found.
Conclusion
While the study sheds light on the personality characteristics associated with cryptocurrency holders, it is essential to remember that these findings are based on surveys and may not be indicative of all individuals who invest in cryptocurrencies. Understanding the varied traits and behaviors of crypto investors can provide valuable insights into the broader crypto community.
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