Author ORCID Identifier

https://orcid.org/0009-0002-1866-8255

Semester

Spring

Date of Graduation

2025

Document Type

Dissertation

Degree Type

DBA

College

College of Business and Economics

Department

Accounting

Committee Chair

Christian Schaupp

Committee Co-Chair

Jack Dormancy

Committee Member

Jack Dormancy

Committee Member

Mark Nigrini

Committee Member

Elizabeth Vitullo

Abstract

The Dark Tetrad comprises four distinct negative personality traits with some overlapping qualities: narcissism, Machiavellianism, psychopathy, and sadism. Characterized as being risky and speculative, cryptocurrencies are not backed by government banks like fiat currencies, nor do they offer the same privacy when engaging in transactions.

Narcissists may view cryptocurrency investment as an opportunity to showcase their financial acumen, reinforcing their self-image. Machiavellians see the decentralized, loosely regulated market as ideal for exploiting opportunities through strategic manipulation. Psychopaths, drawn by the market’s volatility, may engage in exploitative schemes for personal gain. Sadists may find satisfaction in the power and control they can exert within the cryptocurrency space, driven by the appeal of dominance over others.

This study examines the relationship between psychology and the strategic decisions that individuals make when choosing to purchase cryptocurrencies by conducting a survey of 433 participants. Multiple linear regression analysis was used to analyze the results. The findings demonstrate that Machiavellians show a significant intention to invest in cryptocurrency.

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