A recent study has uncovered a link between owning cryptocurrency and embracing conspiracy theories and personality traits collectively known as the "Dark Tetrad," which include narcissism, Machiavellianism, psychopathy, and sadism. The research highlights the diverse political affiliations of crypto owners and their tendency to avoid authoritarianism.
The study, titled "The Political, Psychological, and Social Correlates of Cryptocurrency Ownership," was published in the peer-reviewed open-access journal PLOS One. It was authored by Shane Littrell from the University of Toronto's Munk School of Global Affairs and Public Policy, along with Casey Klofstad and Joseph E. Uscinski from the University of Miami's Department of Political Science.
"We surveyed 2,001 American adults in 2022 to explore how owning cryptocurrency relates to their political, psychological, and social characteristics," the authors explained. "Our analysis found that 30% of respondents had owned some form of cryptocurrency, and these individuals displayed a wide range of political beliefs and identities."
The study also revealed that cryptocurrency ownership correlated with belief in conspiracy theories and personality traits associated with the "Dark Tetrad," as well as frequent use of alternative and fringe social media platforms.
"Further analysis showed that the strongest predictors of cryptocurrency ownership included being male, relying on alternative or fringe social media for news, tendency towards argumentativeness, and a preference against authoritarianism," the authors added.
The paper noted that as cryptocurrency gains popularity, scholars are increasingly interested in understanding the political, psychological, and social profiles of its users. Early findings suggest that cryptocurrency owners differ from non-owners not only in their financial behaviors but also in their political attitudes and psychological profiles.
"Overall, our findings indicate that cryptocurrency buyers share diverse political attitudes, identities, and predispositions," the authors concluded. "This contrasts with previous assertions that cryptocurrencies are predominantly associated with the far-right. Understanding these dynamics is crucial amidst challenges to established authorities in politics and finance, which can have significant economic repercussions."

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