Are You a Crypto Holder? Congrats, You Might Be a Psychopath, Says Study

• A study of 2001 American adults found that those who owned crypto exhibited dark personality traits, including psychopathy, narcissism and sadism.
• However, the study also found crypto owners to be more financially well-off and more politically active, including volunteering during elections and civil disobedience to support their causes.

If you own crypto, chances are that you are more likely to be a psychopath, says one study that polled over 2,000 Americans.

The study was conducted by three researchers from the Universities of Miami and Toronto in 2022, although the results were published in July. It found a strong correlation between crypto ownership and “dark personality characteristics.”

RESEARCH FINDS: CRYPTO OWNERS = PSYCHOPATHS.

Univ. of Toronto researchers found that crypto holders display lower levels of analytic and scientific thinking and are likelier to exhibit psychopathy than the general population.https://t.co/c2hZTruKoT

— Steve Hanke (@steve_hanke) August 26, 2024

The study found that over the 2,001 respondents, around one in three owned crypto, a relatively high ratio given that the average rate of crypto ownership in the US is around 14%, according to some of the latest studies.

Of this population that owns crypto, the researchers found a higher likeliness of dark personality traits. They range from psychopathy, narcissism, sadism, and Machiavellianism. They also rank much higher than the non-crypto owners in their need for chaos, paranoia, dogmatism, victimhood mentality, and psychological reactance. The researchers also claim that crypto owners are more likely to prioritize individual goals relating to success and achievement over communal goals in which everyone benefits but at a smaller scale.

It’s not the first time crypto has been linked to negative emotions and personality traits. Some academics have alleged that crypto owners are withdrawn and prefer solitude, while others have described crypto trading as an addiction similar to other destructive habits. This has led to the emergence of several rehabilitation centres around the world catering to these “addicts.”

To this effect, the paper summed it up as:

People who invest in cryptocurrencies report experiencing significantly higher levels of perceived anxiety, depression, impulsivity, loneliness, mood disorders, and stress compared to those who do not.

This paper even implied that those who buy crypto are not as intelligent as the rest of society, describing them as having “lower levels of factors associated with analytic thinking.”

The researchers found that the most significant factor in a respondent’s interest in crypto is whether they used fringe social media applications, which means the less mainstream platforms. In fact, the research found that being active on Facebook—the most popular platform—was almost a guarantee that the respondent didn’t own any crypto.

While fringe platforms allow more freedom of expression, they have been criticized for fanning conspiracy theories, hatred, racism, and anti-government sentiment.

The researchers summed up:

A profile emerged reflecting cryptocurrency owners as more likely to be male or male-identifying, have somewhat higher income, who feel victimized by a life they perceive as having been unfair.

However, cryptocurrency fans have criticized the study as biased and led by a narrative. Some also noted that the study was funded by the National Science Foundation, a federal agency of the US government, which has been anti-crypto under Biden.

Meanwhile, the overall market has dipped 1.8% in the past day, with a market cap of $2.2 trillion. Bitcoin trades just below $63,000 while Ethereum is changing hands at $2,690; both have dipped around 2%. Analysts predict that some, like Pepe, could surge soon, as we reported.