Purpose: The purpose of this study is to develop an understanding of millennials’ attitudes toward and trust in the Bitcoin cryptocurrency and its value. The study also aims to analyze what this trust is based on. Theoretical frame of reference: Several theories are used to formulate a theoretical frame of reference. The theories of planned behavior, Word of mouth and Electronic Word of Mouth concern consumer behavior and are applied to millennials’ in this case. To take into account the value of Bitcoin, the study also incorporates the theory of trust in technology, which discusses among other things, how trust in technology is essential as it influences whether a person will use the product or service. Methodology: The study uses a qualitative method based on 12 semi-structured interviews conducted via Zoom or Skype. The selection for this study is made through goal-directed selection, which is a selection of respondents who to some extent have knowledge of, or affected by, what the study intends to analyze. Conclusion: The conclusion indicates that millennials who have information about cryptocurrency in advance tend to experience more confidence in Bitcoin, as it is based on their information about the technology behind Bitcoin. Millennials also experience trust in Bitcoin according to their perception that it is not controlled by a third party; however, the cryptocurrency’s value depends on how it is liked by its investors or users. The respondents with a negative attitude were found to lack general information about the cryptocurrency and were, therefore, unwilling to accept the risks that accompany it. The respondents with a positive attitude proved to have confidence in the technology behind Bitcoin and, therefore, spread positive information about it by Word of Mouth.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:sh-48395 |
| Date | January 2021 |
| Creators | El-Agha, Rayan, Yousef, Selma |
| Publisher | Södertörns högskola, Företagsekonomi |
| Source Sets | DiVA Archive at Upsalla University |
| Language | Swedish |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
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