Factors Influencing Thai Investors' Decision to Invest in Cryptocurrencies

Abstract

This research aims to analyze factors' influence on investment decisions in cryptocurrency among Thai investors. The sample is 400 Thai investors in cryptocurrency, gathered by two phases of non-probability sampling, i.e., quota sampling based on investors’ regions, accompanied by accidental sampling. The research tool adopts a questionnaire showing content validity equal to 1.00 and reliability equal to 0.70 for the entire questionnaire. Statistical analysis applied multiple regression analysis.

          The result of an influential analysis regarding factors influencing investment decisions in cryptocurrency among Thai investors found that political, economic, societal, and technological factors influence investment decisions in cryptocurrency among Thai investors. The independent variables together predict Thai investors' decision to invest in cryptocurrency by 47.70%, which considers the adjusted R2 of 0.477. The security provider can inform research results for the development of investment services strategies to support investment decisions in digital currencies of Thai investors influenced by uncontrollable factors or circumstances, giving investors confidence in their investments and increasing the number of investors in future cryptocurrencies.