Crypto Investors Have Worrisome Personality Traits, Study Finds!

In a world where crypto is often seen as a symbol of financial revolution, a new study reveals a less glorious side of its owners. Conducted by researchers from the University of Toronto and Miami, the survey sheds light on some concerning personality traits among cryptocurrency holders. Narcissism, Machiavellianism, psychopathy, and sadism—these traits, known as the “Dark Tetrad,” appear to be prevalent among those who invest in these digital assets. The findings, published in the scientific journal PLOS One, raise critical questions about the psychological makeup of crypto investors and the underlying motivations that drive them toward 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, and Casey Klofstad and Joseph Uscinski of the University of Miami, reveals some troubling personality traits among crypto investors. The researchers surveyed 2,001 American adults in 2022 and found that a third of them owned or had owned cryptocurrencies.

The study found a significant correlation between crypto 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 thestudy also observed that crypto holders are predominantly male, with a marked aversion to authoritarianism. This diverse psychological and sociopolitical profile contradicts the widespread notion that cryptocurrencies are primarily the preserve of the far right.

Crypto Investors: Between Conspiracy and Risk-Taking

According to the study, crypto investors have a strong preference for alternative social media platforms such as Telegram, Truth Social, and Reddit over traditional media. The researchers point out that this preference for alternative news channels is one of the strongest predictors of crypto ownership. Similarly, belief in conspiracy theories is significantly more common among crypto investors, which may exacerbate their aversion to authoritarianism and make them more likely to engage in risky financial behaviors.

Furthermore, researchers estimate that crypto owners are often men with an argumentative attitude and above-average income. These traits, combined with their narcissistic, Machiavellian, psychopathic and sadistic tendencies, push them towards unconventional and potentially dangerous financial behaviors. This combination of psychological and behavioral factors can increase their risk tolerance, and prompt them to invest aggressively in volatile assets like crypto.

Ultimately, while rigorous, this shocking study is based on correlations that do not necessarily apply to all investors. Many crypto owners may invest responsibly and not exhibit the psychological characteristics mentioned. These results should therefore be interpreted with caution and not generalized to the entire crypto investment community.