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January 29, 2025 | Tom Ballard

UGA study finds correlation between social media and interest in crypto

One of the findings was that only 10 percent of non-social media users had invested in crypto.

As social media grows, so too does awareness of cryptocurrencies. And hearing about them online may affect people’s behavior, according to a new study from the University of Georgia (UGA).

Cryptocurrencies, or “crypto,” are digital currencies used for both payment and investment. They’ve seen a surge in popularity over the past decade, especially as more people learn about them through social media. The study found that about half of social media users surveyed have invested in digital currencies. And the more social media platforms a user was active on, the more likely they were to invest.

Meanwhile, only 10 percent of non-social media users had invested in crypto.

YouTube, Reddit, Twitter, and Clubhouse users were the most likely to invest in digital currencies. Instagram users weren’t as keen on crypto.

The researchers believe this may be because longer YouTube videos and Reddit threads allow for more of discussion about crypto. Meanwhile, platforms like Instagram are more focused on visuals.

“A lot of people talk about cryptocurrency on social media and how popular it has become,” said Lu Fan, an Associate Professor in UGA’s College of Family and Consumer Sciences. “There are a lot of celebrities talking about this. People are thinking, ‘Because my friends, families, and the celebrities I admire all invest in that, maybe I should too.’”



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