Scientists from Queensland University of Technology interviewed more than 500 people to identify the character traits of a crypto investor. The results of the study were published by experts in the journal Personality and Individual Differences.
Of the participants, one in four reported owning a cryptocurrency, and two-thirds expressed an interest in investing in cryptocurrency.
According to scientists, the average bitcoin investor is a calculating psychopath with an inflated ego.
They determined that many investors show signs of the “dark tetrad,” a group of four traits consisting of narcissism, Machiavellianism, psychopathy and sadism.
Simply put, this means that dark tetrads have an inflated sense of self-importance and take pleasure in other people’s pain. They also have difficulty empathizing with others and are cunning and prone to manipulation.
All four dark tetrad traits correlated with a propensity to invest, each for their own reasons. According to the researchers, dark tetrads are partly drawn to cryptocurrencies because they are willing to take risks.
The link between traits and affinity for cryptocurrencies also stems from the fact that digital currency has no central authority, meaning it is separate from banks and governments.
The study’s lead author, Dr. Di Wang, said that Machiavellians, who know how to cheat and take a calculated approach to achieving goals, like cryptocurrency “primarily because they don’t trust politicians and government institutions.”
Narcissists, on the other hand, are attracted to technology because they tend to focus on the positive side of life. Researchers found that narcissists like cryptocurrency because of their great faith in the future and confidence that their own lives will improve.
Finally, impulsive psychopaths and sadists like cryptocurrency because they are thrill seekers who are afraid of missing out.
“Perhaps for them, both the pleasure of watching someone else’s pain and the fear of missing out on something are selfishly related,” Dr. Wang concluded.