The study asked 566 people questions that are standard in psychological tests, with 26% of respondents identifying as crypto owners and 64% interested in investing in digital currencies.
The researchers assessed symptoms associated with Machiavellianism, narcissism, psychopathy and the ‘dark tetrad’ of sadism. These behaviors are often associated with excessive selfishness, lack of empathy in exploiting others, and risk-taking.
The study showed that people who are interested in crypto investing are often attracted to the asset because of the high risk/high-return potential similar to gambling.
But he also recognized that those who trust the government may be attracted to the ‘free-to-government’ nature of crypto over fiat currencies.
Machiavellianism is likely to be a driver for those buying crypto as they are not associated with governments, believing that officials are corrupt.