Cryptocurrency holders more likely to have ‘dark’ personality traits of narcissism, psychopathy: Study

Individuals who had purchased crypto were, on average, more likely to believe conspiracy theories, support extremist groups, and share populist sentiments, says the study

Bloomberg
Published30 Aug 2024, 10:43 PM IST
In 2021, the price of Bitcoin climbed to almost $69,000 before sinking below $16,000 in 2022 and then rocketing back to an all-time peak of almost $74,000 this year.
In 2021, the price of Bitcoin climbed to almost $69,000 before sinking below $16,000 in 2022 and then rocketing back to an all-time peak of almost $74,000 this year.(REUTERS)

In 2021, the price of Bitcoin climbed to almost $69,000 before sinking below $16,000 in 2022 and then rocketing back to an all-time peak of almost $74,000 this year. Over the last few years, the digital asset industry has been whipsawed by everything from leaders getting convicted of fraud to presidential candidate Donald Trump touting a strategic national stockpile of Bitcoin.

The strongest predictors of whether someone owns cryptocurrency include variables such as being male, having a victimhood mindset, or relying on fringe social-media sources for news, the researchers wrote.

To be sure, the sample of participants in the study was relatively limited, and those surveyed were told to report their own characteristics. But its conclusions still resonate.

“Call us whatever you want,” Wheeler said. “We’re leading the way.”

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First Published:30 Aug 2024, 10:43 PM IST