Bitcoin Investment Behavior in Thailand

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Aungsudhorn Srikanjanasorn
Pachitjanut Siripanich


This study investigates Thai investors who invest in Bitcoin via questionnaires responded to by 389 Bitcoin investors as well as quota sampling. The research found that more than 70% of male and female investors have speculation and revenue as their investment objective. Investors with the main purpose of investing in Bitcoin for fun and entertainment were mostly found to be aged less than 23 years old. When considering occupation, it was found that these were students. On the other hand, investors over 40 years old most likely invested in Bitcoin to diversify their investments. Interestingly, no more than 10% of investors invest using only mining, while more than half invest for speculation only. Regarding those who influence the decisions of investors, most male and female investors invested by themselves followed by considering advice from analysts, reviews, and various media. Moreover, we found that the investors with different occupations have different investment behavior in terms of investment experience in Bitcoin, the amount of Bitcoin that has the most possession, and the current amount of Bitcoin remaining.

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