Scientists Say Bitcoin Buyers Are Narcissists

By James Brizuela | 1 month ago

cryptocurrency bitcoin

Bitcoin and cryptocurrency have swept over the world. Back in 2011, buying Bitcoin would only have cost a price of one dollar. Now that number has certainly shot up. The current price is around $39,000 for one bitcoin in US dollars. The market for cryptocurrency is wild at best, as just last year, the number for one bitcoin was as high as $63,000. The fluctuations in this seemingly attempt to strike it rich have led scientists to conduct studies about those who find themselves constantly trading in cryptocurrency. According to their findings, most people who invest in cryptocurrency are narcissists.

Being a narcissist isn’t exactly an uncommon thing, but the scientific findings state that most bitcoin traders possess personality traits that fall under an even worse designation known as the “dark tetrad.” Personality traits that have Machiavellianism, narcissism, and psychopathy make up the “dark triad” but adding sadism is what creates the even worse “dark tetrad.” These are all inherently evil traits as they are most associated with those who have “dark” or “evil” personalities. That description may sound awful, but it is closely associated with those who are extremely selfish and take advantage of people without showing any sort of empathy for their actions. One of the main behaviors for those who have the “dark tetrad” personality traits are those who engage in risk-taking behaviors, like trading in bitcoin for instance. The high-risk maneuver of trading in cryptocurrency seems to be associated with selfishness and the other dark traits described in the “dark tetrad.”

cryptocurrency bitcoin

Two of the biggest aspects that attract people to bitcoin trading are the fact that it symbolizes gambling in a way. Due to the inherent nature in which the cryptocurrency market shoots up and then falls, resembles gambling. The second aspect is that cryptocurrency isn’t backed by most governments, so people who distrust the government or believe in wild conspiracy theories are often the ones most associated with trading in bitcoin. These wild personality traits and behaviors show narcissism to a high degree. You can’t convince a narcissist of anything but to think of themselves, even if you’re attempting to convince them that trading away their money in bitcoin is crazy. Narcissism is also when people are overtly confident about all manners of life. Most narcissists in the cryptocurrency trading scope wholeheartedly believe they are going to strike it rich, and no one can tell them any different. Even if that market can be volatile and make them lose thousands of dollars. Much like a casino.

Cryptocurrency is here to stay, much like the NFT craze. Everywhere you look, there is some celebrity speaking about their new line of digital artwork or how they invested in some sort of bitcoin type of crypto. Aren’t celebrities the tell-tale sign of narcissism? While we don’t believe anyone is just inherently evil, belief in gambling and striking it rich might cause some unwanted harm to people’s personal lives and wellbeing. This is where sadism comes in, as sometimes people feel they are missing out on this craze of bitcoin and want to see others fail when they make more money. It’s all related. If you have been staring at your phone or computer and watching your investments slowly tick up, maybe it’s time to go outside and get some fresh air.