Abstract:
Cryptocurrencies have gained widespread popularity due to their rising value and
lack of interest in being used as a medium of exchange in the long term. However,
the cryptocurrency market experienced a collapse in recent times which caused
many retail investors to have lost the majority of their assets. Despite the crash that
occurred in Cryptocurrency market, there are still many people that hold on to this
digital asset. The purpose of this study is to examine the factors that
influence people's decision to invest in Cryptocurrency. The independent variables
used in this research are attitude, subjective norm, perceived behavioral control, and
perceived risk, while dependent variable is investment behavior in Cryptocurrency,
and mediating variable will be represented by intention to invest in Cryptocurrency.
This quantitative research used data from 327 respondents through online
questionnaires and analyzed by using SEM (Structural Equation Modelling). The
result shows that attitude, subjective norm, perceived behavioral control, and
perceived risk influenced people’s intention to invest in Cryptocurrency. Then, the
investment intention influenced the investment behavior in cryptocurrency.
