Understanding the Role of Social Media in a Technology Acceptance Model towards Perception and Investment Intention in Cryptocurrency

Abstract

This study examines how social media and the Technology Acceptance Model (TAM) affect investors' views and intention on cryptocurrencies. The findings show that social media influences cryptocurrency investors' views and intention. The TAM helps explain cryptocurrency investors' technology acceptance. This study uses qualitative and quantitative methods to collect and analyze data. Step 1: e- Delphi qualitative research. Method: twenty-one experts received an email questionnaire to complete online. Two parts of the questionnaire were open-ended and closed-ended with a seven-level rating scale. Step 2: quantitative research involves Step 1 experts creating an online questionnaire to interview and collect data from 882 cryptocurrency buyers, sellers, and traders. The results: the model matches the empirical data. There were 8 factor indicators. Financial literacy weighs 0.95 in the study. Intention is the second factor with an element weight of 0.90, followed by social media, trust, system risk, usefulness, ease of use, finance literacy and attitude. The study adds to the literature on cryptocurrency adoption and investment behavior, but more research is needed to identify other factors that may influence investors' views and intention. This research develops a new model for people who are interested in investment in cryptocurrency.