Perception of social media users regarding cryptocurrency investment adoption: a case of social media platform – Reddit

Athit Rodpangtiam, Smith Boonchutima and Ibtesam Mazahir

Cogent Business & Management, 2024, vol. 11, issue 1, 2402513

Abstract: With retail investors playing a significant role in driving market adoption, cryptocurrency investment has gained widespread popularity recently. However, the perceived value of cryptocurrency investments and the perceived risk associated with investments have not been thoroughly examined. To address this gap in this research field, we surveyed 200 social media users active on social networking paltform - Reddit to unravel the intricate interplay of perceived value, perceived risk, and demographic factors that shape the decision-making process among social media users engaged in cryptocurrency investments. Our findings suggest that the acceptance of cryptocurrency investments is positively influenced by perceived value, whereas perceived risk exerts a negative influence. We also found that certain demographic elements which include age, education, gender, monthly income, and investment experience can moderate the relationship between perceived value, perceived risk, and the adaptation of cryptocurrency investments. The findings from our study offer valuable perspectives for retail investors and industry stakeholders aiming to enhance their understanding of the determinants that impact the acceptance of cryptocurrency investments among social media users.

Date: 2024
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DOI: 10.1080/23311975.2024.2402513

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