The Queensland University of Technology survey identified that many of the investors in the research showed signs of the ‘dark tetrad’.
This group of four character traits - psychopath, sadism, narcissism and Machiavellianism - means they can be manipulative and find it hard to empathise with others.
Scientists asked over 500 people to complete questions on their personality and attitude towards crypto.
It found that one in four own cryptocurrencies, while two-thirds were interested in investing.
The research found a correlation between the dark tetrad traits and interest in crypto.
Study lead author, Dr Di Wang, explained the study on The Conversation.
“Dark tetrad traits are ‘dark’ because of their ‘evil’ qualities: Extreme selfishness and taking advantage of others without empathy.”
“The dark tetrad are also often related to risk-taking behaviors.”
Dr Wang also added that many crypto investors believe governments and banks are corrupt and are attracted to crypto because there is no central system.
“To them, perhaps both the pleasure from seeing another’s pain and the fear of missing out are related to selfishness,” Dr. Wang wrote.