Cryptocurrencies Adoption: Assessment of The Acceptance of Cryptocurrencies as an Asset Class

This thesis aims at assessing the degree of acceptance of cryptocurrencies as an investment form in individuals. In this regard, the thesis conducts a literature review on cryptocurrencies and technology acceptance. The literature review showed that cryptocurrencies could be considered as an asset class. Additionally, specific variables of technology acceptance are derived from the Technology Acceptance Model (TAM), the Theory of Planned Behaviour (TPB), and the Unified Theory of Acceptance and Use of Technology (UTAUT). Therefore, this proposes an acceptance model consisting of 6 independent variables, which influence the Intention to Invest in cryptocurrencies. These variables are Performance Expectancy, Perceived Ease of Use, Perceived Risk, Perceived Security, Social Influence, and General Knowledge. Through a quantitative research approach, it was able to find out that all the variables had a significant positive relationship with the Intention to Invest in cryptocurrencies. Furthermore, the analysis conducted in the thesis showed that the acceptance model consisting of all six independent variables is statistically significant and could explain 42.3%of the variance present in the dependent variable. Furthermore, the thesis laid the basis for future research. The conducted one sample t-test showed that all the independent variables are important to individuals' investment decisions toward cryptocurrencies.*****This thesis aims at assessing the degree of acceptance of cryptocurrencies as an investment form in individuals. In this regard, the thesis conducts a literature review on cryptocurrencies and technology acceptance. The literature review showed that cryptocurrencies could be considered as an asset class. Additionally, specific variables of technology acceptance are derived from the Technology Acceptance Model (TAM), the Theory of Planned Behaviour (TPB), and the Unified Theory of Acceptance and Use of Technology (UTAUT). Therefore, this proposes an accept