- Hanke claims crypto investors are likely to have dark personality traits.
- A study links lower statistical perceptions to those who hold digital currency.
- Billy Markus disagrees with the research, calling it unfair to crypto holders.
Steve Hanke, a U.S. economist, recently labelled digital asset holders as insane individuals based on a review by the University of Toronto. The research found that crypto owners have lower levels of analytic thinking and are more likely to show features related to psychopathy. Hanke’s comments have sparked a lot of debate in the crypto sector.
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Study Shows Dark Traits in Crypto Investors
The Toronto University’s inquiry looked at over 2,000 U.S individuals to understand the psychological profiles of crypto traders. The experiment found that these fund managers are more likely to believe in conspiracy theories and have traits from the “Dark Tetrad”: self-importance, Machiavellianism, psychopathy, and sadism. These findings suggest that digital currency owners may have different mental characteristics compared to most people.
The study also noted that the popularity of cryptocurrencies, driven by anonymous money transfers and unregulated stock markets, seems to attract people with certain personality traits. The research aims to understand if these traits can predict whether someone might trade in digital assets.
Hanke Supports the Findings
Steve Hanke, who is well-known for his condemnation of digital coins, supports the study’s findings. He pointed out that crypto holders show dark personality traits more often than others. Hanke believes these psychological tendencies could affect financial markets and he has been consistent in his criticism of digital assets.
The study raises important questions about the wider impact of these traits. Can the characteristics found in crypto investors lead to more economic instability? As digital assets become more popular, understanding what drives shareholder decisions is becoming more important.
Dogecoin Creator Disagrees with Study
Billy Markus, who co-created Dogecoin, disagrees with Hanke’s view. Markus criticised the study for unfairly labelling crypto traders. He argued that the research does not fully recognize the diversity within the crypto industry.
Markus, who created Dogecoin as a joke in 2013, shared his point of view on social media. He emphasized that it is not accurate to generalize all crypto enthusiast based on the traits identified in the study. Markus also suggested that the study simplifies the reasons why people invest in digital assets.
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