Economist calls crypto investors 'psychopaths'

Steve H. Hanke, a U.S. economist and professor of applied economics at Johns Hopkins University, has stirred controversy with his recent comments on cryptocurrency investors.

Known for his critical stance on digital assets, Hanke publicly labeled crypto holders as “psychopaths,” referencing a study from the University of Toronto.

The study, which Hanke shared on the social media platform X, suggests that individuals who invest in cryptocurrencies exhibit lower levels of analytic and scientific thinking compared to the general population.

Furthermore, the research claims that crypto investors are more likely to display traits associated with the “Dark Tetrad” of personality—narcissism, psychopathy, sadism, and Machiavellianism.

Hanke, a long-time skeptic of the cryptocurrency industry, endorsed the study’s findings, stating that the results align with his own views.

The study surveyed around 2,001 American adults, aiming to explore the psychological and social characteristics of those who invest in cryptocurrencies.

Hanke’s remarks have sparked a heated debate within the crypto community.

Many crypto enthusiasts took to social media to express their disagreement with the study's conclusions and Hanke’s endorsement of them.

Critics questioned the study's validity and the potential biases behind its funding.

For instance, one commenter raised concerns about the study being funded by the National Science Foundation (NSF), a federal agency, and suggested that political figures like Senator Elizabeth Warren might have influenced the research indirectly.

Other responses were more pointed, with some users mocking Hanke's position by pointing out that major financial institutions like BlackRock, Fidelity, and JP Morgan have all embraced cryptocurrencies to some extent.

These commenters questioned whether Hanke would also label these institutions as "psychopaths" under the same criteria.