Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

Crypto Holders Say It’s Hurt Their Personal Relationships

Crypto Holders Say It’s Hurt Their Personal Relationships

Many downsides of cryptocurrencies are well known: There’s volatility, potential for thefts or hacks, and the chance of regulatory changes. Turns out, it may not help your social life, either.
About 60% of crypto investors say their belief or investments in the space have had a negative impact on their personal relationships, according to a SurveyMonkey survey performed on behalf of .Tech Domains that looked at numerous issues around digital assets. What’s more, there’s a direct correlation between the percentage of someone’s net worth that’s invested in cryptocurrencies and the likelihood they say their personal relationships have been impacted negatively.

“The stress on relationships could come from a number of fronts,” said Jeffrey Halley, senior market analyst at Oanda Asia-Pacific Pte. “One person in a relationship investing in cryptos when their partner is a vehement non-believer would create natural stresses -- especially when cryptos have such large intraday swings in value and thus, the value of the portfolio.”

What’s more, he added, “money and greed can corrupt. If one person becomes a paper millionaire, or loses everything, the perception of both parties toward each other could change.”

There’s certainly been a lot of change. Crypto has enjoyed a blockbuster year, with Bitcoin up more than sixfold in the past 12 months and Ether soaring 11-fold. That compares with a gain of 47% for the S&P 500. Endorsements from billionaires such as Elon Musk and Mark Cuban have helped boost the appeal of digital assets, which were already looking attractive to anyone with concerns about inflation in more traditional areas as pandemic-era stimulus sloshes around the global financial system.

Crypto might sometimes improve relationships or boost satisfaction, too. Vignesh Sundaresan, who gained worldwide fame when he bought the Beeple artwork “Everydays: the First 5,000 Days” for a digital-art record of $69.3 million, described some of the positive impact in an interview earlier this month.

“My parents are very happy,” said Sundaresan, who is also known as MetaKovan. He said he spoke to many of his friends “even five years ago about putting a bit of their money into crypto. They are seeing my growth and that gives them confidence about their own investments -- and I’m happy about that.”

Still, Bitcoin’s drop below $50,000 just nine days after hitting a record north of $64,000 is a reminder of the volatility that can occur. Numerous commentators have cautioned that crypto might be in a bubble after such a big run-up.

The .Tech Domains survey results do look somewhat daunting. About 25% of those who’ve invested 10% or less of their net worth into crypto say that they’ve seen a negative impact on their personal relationships, according to the survey, which was done with 1,033 Americans and balanced by age and gender. That number rises to 73% for those who’ve invested 10%-25% of their net worth, 94% for those who’ve invested 50%-75% of net worth -- and 100% for those who’ve invested 75% or more of their net worth.

“This makes the crypto PR machines’ ‘mainstream acceptance’ mantra sound ever more hollow,” Halley said. “Except for the lucky few, I fear that cryptocurrencies’ path will be littered with human tragedies.”
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×