Magnifymoney.com recently published a study that surveyed 1,116 American consumers that have an investment account. The researchers commissioned Qualtrics and the study looks at generational investors like generation Z, millennials, generation X, and baby boomers.
Study Shows 32% of US Investors Admit to Trading Drunk, Crypto Investors Share Intoxicated Trade Stories
The study found that 66% of investors “have made an impulsive or emotionally charged investing decision they later regretted.” The survey adds:
“32% of investors have traded while drunk. This includes 59% of Gen Z investors who have bought or sold an investment while inebriated — more than any other age group.”
Drunken Crypto Trading Stories, Origin of the Term ‘HODL’
The survey covers investors who have invested in traditional assets like stocks. However, crypto investors are also known for being victims of emotional trading and purchasing digital assets while drunk. Three years ago a Redditor posted on the subreddit r/cryptocurrency and asked if anyone else bought crypto when they were drunk. The redditor wrote:
“I’ve purchased over one entire [litecoin] during the span of the last week or so, with absolutely no recollection of it until checking my email. Luckily drunk me still understands money and bought almost all of it in the dip.”
A number of crypto enthusiasts said they bought crypto while being drunk, one person made a point that the Redditor should “install a breathalyzer on [the] computer.” “You should start a separate drunk portfolio and track it against your regular portfolio and see what makes more money,” another individual responded to the post. This might actually be a fun trial.
Slate recently covered a story about dogecoin (DOGE) and bitcoin (BTC) investors who day trade while drinking. “I reached out to a Reddit user who posted about day-drinking margaritas to lessen her panic about investing in bitcoin near its most recent high,” Slate author Aaron Mak wrote. “A self-described ‘female investor’ who lives in New York City, she works as an actress and children’s fiction writer.”
Even the widely used crypto slang term “HODL” originates from a bitcoiner who admitted to being drunk on whiskey while misspelling the word “hold.” HODL first appeared in a post to bitcointalk forum at 10:03 a.m. UTC on December 18, 2013. The bitcointalk member “Gamekyuubi” wrote a post called: “I AM HODLING.” Gamekyuubi’s drunken post slang went viral and the term “HODL” has been a mainstay in the crypto community ever since.
Source: 32% of American Investors Admit to Trading Drunk, According To A Study – Fintechs.fi