Acceptance of Bitcoin by Investors in the Southern Region of Thailand

Abstract

Bitcoin has become an asset that is gaining popularity among investors due to the trend of transitioning into the digital society, inflation, and the use of Bitcoin as a store of value. This research aims to study the acceptance of Bitcoin among investors in southern Thailand, classified by personal factors, through a survey of 400 samples. The data was analyzed using statistical methods such as independent sample t-test and one-way ANOVA to test hypotheses. The study found that most of the sample group were males, over 40 years old but under 50 years old, with a bachelor's degree or equivalent, an average monthly income of 30,001-45,000 baht, and had experience in investing in the SET market. Gender and experience in investing in the SET market did not affect the acceptance of Bitcoin, but Differences in age, education level, and income have an impact on the acceptance of Bitcoin. At least one pair of groups showed significantly different acceptance levels: investors aged over 40 but under 50 were more likely to accept Bitcoin than investors aged over 30 but under 40 and investors aged under 30. Investors with educational levels lower than a bachelor's degree tend to have lower acceptance of Bitcoin compared to those with a master's degree or higher, as well as investors with a bachelor's degree or equivalent. And an average monthly income of 30,001-45,000 baht were more likely to accept Bitcoin than those with an average monthly income over 45,000 baht and those with an average monthly income of 15,000-30,000 baht. The significance level was 0.05. This research is beneficial to relevant organizations in planning for providing information and implementing measures to regulate Bitcoin based on the personal characteristics of investors or the general population. Further studies could examine attitudes and investment behaviors among different generations within the sample group.