Crypto quest: unveiling the gender gap in Iceland’s cryptocurrency ownership and investment
Year: 2025
Type: article
Abstract: Purpose This study investigates the gender gap in cryptocurrency ownership and investment in Iceland. We specifically examine whether differences in subjective knowledge about cryptocurrencies help explain why men are more likely to invest than women. Design/methodology/approach We use a nationally representative survey of 1,036 adults in Iceland to analyze the demographic, financial and psychological factors associated with investment in cryptocurrencies. We employ mediation analysis to examine how demographic, psychological and financial factors – particularly subjective knowledge – relate to gender differences in cryptocurrency ownership and investment. Findings The results show that 8% of the sample had already invested in cryptocurrencies, while 5% are current holders. Younger, male and risk-tolerant individuals were more likely to invest in cryptocurrencies. Openness to new technologies and concerns about the security of savings in Icelandic banks were also associated with a higher likelihood of cryptocurrency investment. Subjective knowledge about cryptocurrencies was a significant predictor of cryptocurrency ownership and explained the gender difference in investment behavior. Research limitations/implications As this study focuses on Iceland, the results may not be generalizable to other countries with different financial environments. Future research should investigate how cultural and regulatory factors influence cryptocurrency participation. Originality/value The findings can inform financial education programs and policy decisions by highlighting the importance of subjective knowledge of cryptocurrencies and risk tolerance in cryptocurrency investment decisions.
Source: Baltic Journal of Management
Authors: Agata Gasiorowska, Michał Folwarczny, Jón Þór Sturluson, Ender Demir
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: gold
OpenAlex ID: W7083316042