A recent study has found that crypto traders are more likely to have psychopathic characteristics.
Over 2,001 American adults were surveyed for a study conducted by researchers at the University of Toronto and the University of Miami. Crypto owners scored higher on parameters like the need for chaos, paranoia, schizotypal attributes, dogmatism, victimhood mentality, and psychological reactance.
According to the researchers, crypto owners exhibit higher levels of “dark” personality traits like narcissism, Machiavellianism, psychopathy, and sadism.
The report further highlighted,
“The results presented here suggest that cryptocurrency ownership is associated with several nonnormative and arguably maladaptive characteristics. Individuals who had purchased crypto were, on average, more likely to believe conspiracy theories, support extremist groups, and share populist sentiments.”
Humorous self-deprecation is another trait that people associated with crypto depict.
Among the respondents, less than one-third of them currently own or have owned crypto assets in the past.
Chris Wheeler, a 57-year-old crypto trader, highlighted that nothing is guaranteed when you trade crypto. You literally have to be “crazy” to be involved in something where your net worth is going “up a million and down a million in one day.” He said,
“Call us whatever you want. We’re leading the way.”
Luke Martin, the host of Stacks Podcast, emphasized,
“Yeah you need to be a little crazy to hold coins through multiple 80% drawdowns before they rip 10x higher. This is a feature, not a bug.”
Meanwhile, another community member exclaimed,
“I didn’t realize the secret behind my HODL strategy was actually psychopathy.”
However, there was one part of the study that many people disagreed with. A particular user said, “Everyone being concentrated on the psychopath thing cause it seems cool while ignoring the « crypto holders display lower levels of analytic and scientific thinking » is killing me.”
