Steve Hanke Calls Crypto Owners Psychopaths, Citing New Research

Prominent US economist and professor of applied economics at the Johns Hopkins University in Baltimore, Steve H. Hanke has taken a jab at cryptocurrency holders, aiming at their levels of analytic and scientific thinking compared to the general population.

The economist and prominent cryptocurrency critic cited recently published Canadian research as he called crypto investors psychopaths.

Crypto owners are psychopaths, research finds; Hanke agrees

While publicly agreeing with the “diagnosis” made by researches, Hanke published a link that leads to the results of the research made by the University of Toronto.

Hanke gave a short summary of their conclusion: “Crypto holders display lower levels of analytic and scientific thinking and are likelier to exhibit psychopathy than the general population.”

RESEARCH FINDS: CRYPTO OWNERS = PSYCHOPATHS.

Univ. of Toronto researchers found that crypto holders display lower levels of analytic and scientific thinking and are likelier to exhibit psychopathy than the general population.https://t.co/c2hZTruKoT

— Steve Hanke (@steve_hanke) August 26, 2024

The report begins with a definition of cryptocurrency – “a digital asset secured by cryptography that has become a popular medium of exchange and investment known for its anonymous transactions, unregulated markets, and volatile prices.” Considering the quickly expanding popularity of crypto assets and the “popular subculture of traders”, as well as “its implications for financial markets and monetary policy”, scholars decided to begin studying the political, psychological, and social characteristics of those people who invest in cryptocurrencies and hold them for a long period of time.

The scientists made a poll on more than 2,000 American adults two years ago to see if there are any associations between holding crypto and their “individual level political, psychological, and social characteristics.”

They revealed that cryptocurrency holders are more inclined to believe in conspiracy theories and they possess “dark” characteristics of personality also known as the “Dark Tetrad”: narcissism, Machiavellianism, psychopathy, and sadism.

Dogecoin founder stands against this research

In early July, one of the two founders of the popular meme cryptocurrency Dogecoin, Billy Markus (known as Shibetoshi Nakamoto on the X platform) also cited an article published by Independent that covered the aforementioned research. Markus strongly criticized that research.

Aside from the above-mentioned “Dark Tetrad” of crypto investor’s character features, Markus pointed out that the report also says crypto holders do not trust legacy media and prefer alternative news platforms, relying on “on fringe social media sources for news.” That, according to Independent, is the strongest predictor as to whether a person holds cryptocurrencies or not.

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