Eksplorasi Minat Investasi Cryptocurrency dari Dimensi Keperilakuan

Eksplorasi Minat Investasi Cryptocurrency dari Dimensi Keperilakuan

Authors

  • Gusi Putu Lestara Permana Universitas Pendidikan Nasional
  • Kadek Srestiyani Universitas Pendidikan Nasional

DOI:

https://doi.org/10.33603/jka.v9i1.10118

Keywords:

Investment decision, Cryptocurrency, Behavior, Investment interest

Abstract

The rapid development of information technology and the advent of the Fourth Industrial Revolution have significantly transformed the way society conducts financial transactions. Cryptocurrency, as an innovation within the digital financial system, offers both convenience and efficiency; however, it also faces considerable challenges concerning security and privacy. This study aims to measure behavioral intentionstoward cryptocurrency investment. Employing construct from theoretical approach based on the Unified Theory of Acceptance and Use of Technology 2 (UTAUT 2) and the Theory of Planned Behavior (TPB), the research analyzes the influence of various behavioral factors on cryptocurrency investment interest. A purposive sample of 120 respondents from Java and Bali was surveyed using a Likert-scale questionnaire, and data were analyzed with Partial Least Squares (PLS) via SmartPLS. The results indicate that interest in cryptocurrency investment can be explained through behavioral dimensions assessed using the UTAUT 2 and TPB models. The key factors examined include trust, awareness, hedonic motivation, and social influence. Investment decisions in cryptocurrency media require strong personal trust and awareness; moreover,external influences, such as social factors, also significantly affect investment interest.

References

Adam, R., & Siharis, A. (2023). Analisis Pengaruh Literasi Keuangan Dan Personal Interest Terhadap Kesadaran Investasi Pada Mahasiswa Manajemen Universitas Tidar Angkatan 2018. Sibatik Journal: Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan, 2(5), 1579–1588. https://doi.org/10.54443/sibatik.v2i5.854.

Agarwal, N. (2022). How to obtain the fair value for cryptocurrency and digital assets. International Journal of Blockchains and Cryptocurrencies, 3(1), 16. https://doi.org/10.1504/ijbc.2022.10047463.

Agus Widarjono, Ph. D. (2018). Ekonometrika (Edisi Kelima).

Ajzen. (1991). The Theory of Planned Behavior. Organizational Behavior and Human Decision Precesses. 179–211.

Amin, N. F. (2023). 10624-33580-1-PB. Konsep Umum Populasi Dan Sampel Dalam Penelitian, 14.

Andriyanty, R. D. D. U. (2021). Faktor-Faktor Sosial Yang Mempengaruhi Kesadaran Gaya Hidup Cinta Produk Dalam Negeri Generasi Muda Indonesia.

Ariefin Addinpujoartanto, Nur Darmawan, & Surya. (2020). Pengaruh Overconfidence, Regret Aversion, Loss Aversion, Dan Herding Bias Terhadap Keputusan Investasi Di Indonesia. In Sejarah Artikel: Diterima. http://journals.usm.ac.id/index.php/jreb.

Buterin, V., Illum, J., Nadler, M., Schär, F., & Soleimani, A. (2024). Blockchain privacy and regulatory compliance: Towards a practical equilibrium. Blockchain: Research and Applications, 5(1). https://doi.org/10.1016/j.bcra.2023.100176.

Chohan, U. W. (2022). Crypto Winters. https://ssrn.com/abstract=4142885 Ghozali. (2014). Structural Equation Modeling (Edisi 4).

Gupta, D., Rambhateri, & Rani, T. (2025). Examining factors influencing cryptocurrency adoption in India: Moderating role of government regulations. Strategic Business Research, 1(1), 100016. https://doi.org/10.1016/j.sbr.2025.100016.

Hair. (2014). Partial Least Squares Structural Equation Modeling (PLS-SEM) Using R.

Handayani, F., Parlyna, R., & Yusuf, M. (2021). Peran Ketersediaan Uang dalam Memoderasi Pengaruh Motivasi Hedonis dan Motivasi Utilitarian Terhadap Pembelian Impulsif Pada E-Commerce (Vol. 2, Issue 1).

Huang, R., Chen, J., Wang, Y., Bi, T., Nie, L., & Zheng, Z. (2024). An overview of Web3 technology: Infrastructure, applications, and popularity. Blockchain: Research and Applications, 5(1). https://doi.org/10.1016/j.bcra.2023.100173.

Huda, N., Lake, Y., Ray, D., Sitorus, H., Ekonomi, F., Bisnis, D., & Timor, U. (2023). Strategi Investasi pada Aset Cryptocurrency. Moneter Jurnal Akuntansi Dan Keuangan, 10, 49–53. http://ejournal.bsi.ac.id/ejurnal/index.php/moneter49.

Jessica Willyanto, Grace Vannesa Wijaya, & Evelyn. (2022). Pengaruh Bias Terhadap Keputusan Investasi Saham Pada Investor Muda Di Surabaya. Jurnal Akuntansi Pajak.

Kristianti, I., Tulenan, V., Ekonomika, F., Bisnis, D., Kristen, U., & Wacana, S. (n.d.). Dampak financial technology terhadap kinerja keuangan perbankan. 18(1), 2021–2057. http://journal.feb.unmul.ac.id/index.php/KINERJA.

Lee, J. (2026). Cryptocurrency travel revolution: Unraveling the mystery of consumer trust in market environment volatility. International Journal of Hospitality Management, 133. https://doi.org/10.1016/j.ijhm.2025.104506.

Meero, A., Aziz, A., & Rahman, A. (2021). Degree Of Trustiness And Awareness Of Cryptocurrency: Factors Affecting The Future Currency In The Gulf Cooperation Council (GCC). https://www.researchgate.net/publication/353323734.

Mustika, W., Kurniawati, M., & Sari, M. P. (2023). Pengaruh Motivasi Belanja Hedonis Terhadap Perilaku Pembelian Impulsif Kategori Produk Fashion Online Pada Marketplace (Vol. 21, Issue 1). https://jurnal.ubd.ac.id/index.php/ds.

Naution, D. A., Reni, R., Hasibuan, A., & Prayoga, R. (2021). Tingkat Perkembangan Fintech (Financial Technology), Pemahaman Fintech (Financial Technology) dan Minat Mahasiswa UIN Sumatera Utara. Jurnal Pendidikan Tambusai, 5, 9080–9090. https://jptam.org/index.php/jptam/article/view/2423.

Perayunda, I. G. A. D., & Mahyuni, L. P. (2022a). Faktor-Faktor Yang Mempengaruhi Keputusan Investasi Cryptocurrency Pada Kaum Milenial. EKUITAS (Jurnal Ekonomi Dan Keuangan), 6(3). https://doi.org/10.24034/j25485024.y2022.v6.i3.5224.

Perayunda, I. G. A. D., & Mahyuni, L. P. (2022b). Faktor-Faktor Yang Mempengaruhi Keputusan Investasi Cryptocurrency Pada Kaum Milenial. EKUITAS (Jurnal Ekonomi Dan Keuangan), 6(3). https://doi.org/10.24034/j25485024.y2022.v6.i3.5224.

Pillai, R., Preet, R., Sivathanu, B., & Rana, N. P. (2024). Assessing factors influencing intentions to use cryptocurrency payments in the hospitality sector. Information Technology and People. https://doi.org/10.1108/ITP-07-2023-0673.

Pittaras, I., Fotiou, N., Karapapas, C., Siris, V. A., & Polyzos, G. C. (2024). Secure smart contract-based digital twins for the Internet of Things. Blockchain: Research and Applications, 5(1). https://doi.org/10.1016/j.bcra.2023.100168.

Rahmawan, B. A., Robbani, N. A., & Mafruhat, A. Y. (2022). Dampak Cryptocurrency Terhadap Sistem Moneter: Sebuah Tinjauan Pustaka Sistematis.

Rashidibajgan, S., & Hupperich, T. (2024). Utilizing blockchains in opportunistic networks for integrity and confidentiality. Blockchain: Research and Applications, 5(1). https://doi.org/10.1016/j.bcra.2023.100167.

Rejeb, A., Rejeb, K., & G. Keogh, J. (2021). Cryptocurrencies in Modern Finance: A Literature Review. ETIKONOMI, 20(1), 93–118. https://doi.org/10.15408/etk.v20i1.16911.

Rodrigues, P., Sousa, A., & Brochado, A. (2025). Cryptocurrencies in Portugal: trust and adoption among young adults. International Journal of Bank Marketing. https://doi.org/10.1108/IJBM-05-2024-0266.

Salisa, N. R. (2020). Jurnal Akuntansi Indonesia 182 Faktor yang Mempengaruhi Minat Investasi Di Pasar Modal: Pendekatan Theory Of Planned Behaviour (TPB). Jurnal Akuntansi Indonesia, 9(2), 182–194.

Van Vulpen, P., Siu, J., & Jansen, S. (2024). Governance of decentralized autonomous organizations that produce open source software. Blockchain: Research and Applications, 5(1). https://doi.org/10.1016/j.bcra.2023.100166.

Vasudeva, S. (2023). Cryptocurrency as an investment or speculation: a bibliometric review study. Business Analyst Journal, 44(1), 34–50. https://doi.org/10.1108/baj- 07-2022-0008.

Venkatesh, Thong, & Xu. (2012). User Acceptance of Information Technology: Toward a Unified View.

Downloads

Published

2025-06-30

How to Cite

Permana, G. P. L., & Srestiyani, K. (2025). Eksplorasi Minat Investasi Cryptocurrency dari Dimensi Keperilakuan. Jurnal Kajian Akuntansi, 9(1), 187–207. https://doi.org/10.33603/jka.v9i1.10118

Issue

Vol. 9 No. 1 (2025): JUNI 2025

Section

Artikel

License

Copyright (c) 2025 Jurnal Kajian Akuntansi

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Authors who publish in this journal agree to the following terms:
  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike (CC-BY-SA 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.