The world of cryptocurrencies is volatile, dramatic, and chaotic. Some have been drawn into its ecosystem, but most are still on the fence. Cryptocurrency ownership offers benefits and drawbacks of its own.
According to a new study, those who own digital assets have psychological traits including psychopathy and narcissism.
Study on Cryptocurrency Ownership and Psychological Traits
2,001 Americans were questioned for the study by the University of Toronto. This looked at the connections between several political, psychological, and social traits and cryptocurrency ownership. There were 1,101 females and 900 males in the sample.
The average age of the survey was 48. About 30% of the respondents to the study said they owned cryptocurrencies. A wide range of identities and political philosophies were represented among them. The study further read,
“Crypto ownership was associated with belief in conspiracy theories, “dark” personality characteristics (e.g., the “Dark Tetrad” of narcissism, Machiavellianism, psychopathy, and sadism), and more frequent use of alternative and fringe social media platforms.”
Here’s What The Survey Says
23.57% of respondents tended to desire status or prestige, while 30.22% of respondents indicated they “wanted others to admire” them. Regarding psychopathy, 15.80% of participants revealed that they were generally “unconcerned with the morality of their actions.” 14.55% reported that they generally “lack remorse”, and 16.25% said they were generally “callous or insensitive.”
Is “Psychopath” The Right Word For Cryptocurrency Holders?
Professor of applied economics at Johns Hopkins University and well-known US economist Steve H. Hanke concluded on X that cryptocurrency holders were psychopaths, citing the working paper.
The University of Toronto dismissed Hanke’s claims. The paper’s author, Shane Littrell, posted on X, saying, “Sad to see a supposed scholar spread rage-baiting misinformation about legitimate scientific research.”