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Not all cryptocurrency holders are impulsive: the case of stablecoins

Author

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  • Mohamad El Haj

    (Nantes Université, Univ Angers, Laboratoire de Psychologie des Pays de la Loire (LPPL - EA 4638)
    CHU Nantes, Clinical Gerontology Department)

  • Ahmed A. Moustafa

    (Bond University, School of Psychology, Faculty of Society and Design
    University of Johannesburg, Department of Human Anatomy and Physiology, Faculty of Health Sciences)

Abstract

There is a surge of interest in the psychological profile of cryptocurrency users. We pursued this line of research by assessing impulsivity in holders of stablecoins vs. holders of other cryptocurrencies. In an online survey, we invited 115 participants to indicate the percentage of their stablecoins holding and to fill the Barratt Impulsivity Scale. Analysis demonstrated significant negative correlations between stablecoins holding and non-planning, cognitive, and motor impulsivity, that is, the higher the percentage of stablecoins holding was, the lower impulsivity was. A higher percentage of stablecoin holding was associated with a decreased tendency to act without considering future consequences of decisions. Greater stablecoin holding was correlated with indicators of higher cognitive and motor control in decision making (e.g., increased inhibition of impulsive risky decisions, increased inhibition of prepotent emotional responses such as the tendency to act “on the spur of the moment”). While some cryptocurrencies trading strategies can be associated with some levels of impulsivity, stablecoins holding seems to be associated with low levels of impulsivity.

Suggested Citation

  • Mohamad El Haj & Ahmed A. Moustafa, 2026. "Not all cryptocurrency holders are impulsive: the case of stablecoins," Digital Finance, Springer, vol. 8(1), pages 1-13, March.
    • Handle: RePEc:spr:digfin:v:8:y:2026:i:1:d:10.1007_s42521-025-00165-0
    DOI: 10.1007/s42521-025-00165-0
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