A research report has unveiled intriguing psychological traits among crypto investors. The research, surveying 2,001 American adults, shows that a significant number of crypto owners exhibit lower analytical thinking. In contrast, they display higher levels of traits associated with psychopathy.
Led by University of Miami professor Klofstad Casey, Shane Littrell of the University of Toronto, and American political scientist Joseph Uscinski, the study aimed to delve into the political, psychological, and social characteristics of individuals drawn to cryptocurrency.
Crypto Investors Love Chaos
The researchers gathered data from a representative sample including 900 males and 1,101 females. The findings paint a complex portrait of those invested in this digital financial frontier.
Dr. Casey’s team employed a comprehensive multivariate model to better understand the predictors of crypto ownership. The strongest indicators included being male, a primary reliance on alternative media sources for news, a natural inclination toward argumentativeness, and a distinct aversion to authoritarianism. Consequently, these attributes suggest a broader trend of anti-establishment sentiments among crypto investors.
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This pattern aligns with previous research, which often highlights nontraditional, even anarchic, ideologies prevalent among crypto users. Such sentiments include distrust of mainstream financial systems and traditional currencies, driven by concerns over privacy and government surveillance.
Hence, these motivations reflect a deep-seated skepticism of established authorities, aligning with the crypto community’s adoption of decentralized and non-governmental financial systems.
The study further discovered that owning cryptocurrencies is weakly but positively correlated with general scientific knowledge and mathematical ability. However, it is more strongly linked to a higher acceptance of simplistic solutions and a greater susceptibility to conspiracy theories.
Notably, crypto investors scored higher on several “dark” personality dimensions, including measures of narcissism and Machiavellianism. These characteristics were complemented by significant levels of paranoia, victimhood mentality, and a need for chaos.
“Crypto owners also indicated that agentic goals related to success, status, and achievement are more important to them than communal goals which involve helping others,” the research revealed.
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Moreover, the findings suggest that crypto ownership correlates with experiencing higher levels of negative emotions compared to positive ones, adding a layer of complexity to crypto investors’ emotional makeup.
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