Users of social media are more likely to invest in digital currencies, a New study of the University of Georgia (Uga) has found.
The study found that almost 50% of respondents who were constantly using social media had invested in digital assets. The more a respondent used social media, the more likely they were to have invested in digital assets. Only 10% of respondents who did not use social media had invested in digital currency.
The study also found that The choice of social media platform determined the likelihood that a user would invest in digital assets. X (former twitter)The Youtubeand Reddit Users were most likely to own digital currency. In the meantime, Instagram
Users were least likely to invest.
The researchers behind the study believe that this was because Twitter and Reddit allow their users to participate in longer discussions about digital assets. On Youtube, influencers create videos that break down tokens and dismanties investment. However, Instagram focuses on pictures, for which digital currency is not optimized.
“Many people talk about Cryptocurrency on social media and how popular it has become. There are many celebrities talking about this. People think, “because my friends, families and celebrities I admire everyone investing in it, maybe I should too,” commented Lu Fan, associate professor at UGA’s College of Consumer Sciences.
UGA study is the latest to create a link between digital asset investment and the use of social media. In a previous study, researchers from Pennsylvania State University found The “social media stream predicts significantly crypto returns, while emotions from news media do not.”
A separate report from the Bitet Exchange found that Telegram had played a primary role in Africa’s digital asset revolution. The report revealed that “crypt -focused” groups on telegrams shot up 189% in 2024 and that most beginners were encouraged to dive into interacting with other enthusiasts in these groups.
While social media has been a force for the most part, it has also been manipulated to swing markets, with retail investors who left the short end of the stick. Some, like ELON MUSIChas mastered the art of affecting “crypto” through their tweets. Even the new US President, Donald Trump, has apart and revealed his New Meme coin On social media just a few days before his inauguration and pushes it to a market value of $ 15 billion on Monday.
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