Distrust or speculation? The socioeconomic drivers of US cryptocurrency investments

【Author】 Auer, Raphael; Tercero-Lucas, David

【Source】JOURNAL OF FINANCIAL STABILITY

【影响因子】3.554

【Abstract】Employing representative data from the U.S. Survey of Consumer Payment Choice, we find no evidence that cryptocurrency investors are motivated by distrust in fiat currencies or regulated finance. Compared with the general population, investors show no differences in their level of security concerns with either cash or commercial banking services. We find that cryptocurrency investors tend to be educated, young and digital natives. In recent years, a gap in ownership of cryptocurrencies across genders has emerged. We examine how investor characteristics vary across cryptocurrencies and show that owners of cryptocurrencies increasingly tend to hold their investment for longer periods.

【Keywords】Digital currencies; Cryptocurrencies; Distributed ledger technology; Blockchain; Payments; Digitalisation; Banking; Household finance; Money; Bitcoin; Ether; xrp; Bitcoin cash; Litecoin; Stellar; eos

【发表时间】2022 OCT

【收录时间】2022-10-31

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-数字货币