Catenaa, Monday, February 17, 2025 –A study from the University of Georgia has found that social media users are significantly more likely to invest in cryptocurrency than non-users, highlighting the growing influence of digital platforms on financial decision-making.
According to the research, approximately half of social media users surveyed had invested in crypto, compared to just 10% of those who do not engage with online platforms.
The likelihood of investing also increased with the number of social networks a person used, with YouTube, Reddit, and X being the most influential.
The study suggests these platforms encourage discussion through long-form content and interactive discussions, whereas visually driven networks like Instagram had less impact.
“A lot of people talk about cryptocurrency on social media and how popular it has become,” said Lu Fan, an associate professor at UGA. “There are a lot of celebrities talking about this. People are thinking, ‘Because my friends, family, and the celebrities I admire all invest in that, maybe I should too.’”
Demographics also played a role in investment behavior.
Men and individuals with a higher risk tolerance were more inclined to buy crypto, while those with higher education levels and older individuals showed less interest.
The study also raised concerns about misinformation, suggesting younger investors may overestimate their financial knowledge and be vulnerable to scams.
Researchers called for stronger media literacy initiatives and regulatory oversight to ensure informed decision-making in the crypto space.
