Young Future Economists’ Perception of Cryptocurrencies and the Motives for their Purchase



Year of publication 2019
Type Article in Proceedings
Conference Reviewed proceedings of the International Masaryk Conference for PhD. Students and Young Researchers 2019
MU Faculty or unit

Faculty of Economics and Administration

Keywords Cryptocurrencies; Informal Economy Instrument; Investment/Speculative Asset; Medium of Exchange; Survey; Virtual Currencies
Description Cryptocurrencies represent one of the most innovative financial assets in recent years. The attitude to cryptocurrencies can vary, as well as the motives for their purchase. The aim of the paper is to find out and analyse the perception of young future economists of cryptocurrencies and their motives for purchasing them. For this purpose, an online questionnaire survey was conducted among economists aged 19-35 years in May 2019. A total of 269 responses were obtained and evaluated using descriptive statistics and statistical methods of linear regression and analysis of variance (ANOVA). The results show that 44.98% of respondents perceive cryptocurrencies as speculative assets, 23.79% as a medium of exchange, 21.93% as investment assets and 8.92% as an informal economy instrument. Out of all respondents, 31.22% purchased or intends to purchase cryptocurrencies – most of them for the reason of cryptocurrency value and its future development.
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