Crypto Investors Labelled as ‘Psychopaths’ by Renowned Economist—Here’s Why

Steve H. Hanke, a renowned US economist and professor of applied economics at Johns Hopkins University, has once again made headlines with his critical views on cryptocurrency holders.

Known for his skepticism toward digital assets, Hanke recently took a public jab at digital currency investors, calling them ‘psychopaths’ while citing a newly published research from the University of Toronto.

Are Crypto Investors Psychopaths?

The research suggests that those who invest in digital currencies exhibit lower levels of “analytic and scientific thinking” than the general population. Furthermore, Hanke echoed the study’s findings, labeling crypto holders as “more likely to display psychopathic traits.”

The economist, who has long been a vocal critic of the crypto industry, shared a summary of the research on Elon Musk’s social media X, agreeing with its conclusions.

The study reveals that digital currency holders are not only less inclined towards analytical thinking but also more prone to traits associated with the so-called “Dark Tetrad” of personality—narcissism, psychopathy, sadism, and Machiavellianism.

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

Notably, the research cited by Hanke involved roughly 2001 American adults at Toronto University The study aimed to “explore the psychological and social characteristics” of individuals who invest in and hold cryptocurrencies over a long period.

Community Reactions

Hanke’s endorsement of this study’s conclusions has fueled the debate amongst the crypto community. Particularly, going through the comment section of Hanke’s post, many commenters were mad over the statement made by Hanke and saw the study as “inaccurate.”

For instance, one of the X users under the name Humble Warrior replied to Hanke’s post, noting:

Steve, do you have any concerns that this study was funded by the National Science Foundation (NSF), a federal agency, with members of Congress, including Elizabeth Warren, playing an indirect yet important role in the NSF through legislative and oversight functions?

Meanwhile, others of the commenters weren’t as nice with their replies, and many of them threw jabs back at economists.

I guess BlackRock, Fidelity, Franklin Templeton, Wall Street, JP Morgan and more are all Psychopaths right Steve?

Time to hang it up Steve, go enjoy retirement

— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) August 27, 2024

For instance, a prominent crypto analyst known as Checkmate jokingly said “Given this revelation,” people should stay away from the bridges he designed for a living as an engineer.

The analyst added:

“My scientific skills, and intent are clearly compromised. Shame, I won’t tell you which ones I worked on.”

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