The investment value of crypto-influencers is zero or negative
A joint study by researchers from Harvard Business School, Indiana University Business School and Texas A&M University found that the long-term investment value of tweets by popular crypto-influencers not only tends to zero, but can lead to a loss of funds. A team of experts from three institutions analyzed nearly 36,000 posts on the X network on behalf of 180 of the most popular and influential individuals in the crypto community. The study of posts was limited to a two-year period ending in December 2022 and covered more than 1,600 cryptocurrencies. Researchers have obtained compelling evidence that influencers advice about investing in cryptocurrency is, on average, unfavorable. This confirms the validity of regulators concerns that social media can mislead retail investors. People who represent a large share of the entire crypto market and for whom financial losses can be particularly devastating financially and socially. The future of cryptocurrency cannot be built on vira