Is Fadhillah
IBMT College of Economics

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The Influence of Investment Knowledge and Return Expectations on Cryptocurrency Investment Decisions of Surabaya Investors Yohanes Yoanto; Is Fadhillah; Rini Novianti
Escalate : Economics and Business Journal Vol. 4 No. 01 (2026): Escalate: Economics and Business Journal
Publisher : Takaza Innovatix Labs Ltd.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61536/escalate.v4i01.672

Abstract

This study examines the relationship between investment knowledge and return expectations and cryptocurrency investment decisions among investors in Surabaya. A quantitative survey was conducted using purposive sampling, involving 120 respondents who had invested in cryptocurrency, were at least 17 years old, and resided in Surabaya. Data were analyzed using SPSS, including multiple linear regression, t-tests, and the coefficient of determination. The results show that investment knowledge has a positive and significant association with cryptocurrency investment decisions, with a regression coefficient of 0.532 (t = 10.271, p < 0.001). Return expectations also have a positive coefficient of 0.110 but are not statistically significant (t = 1.305, p = 0.195). The model's R² of 0.553 indicates that investment knowledge and return expectations jointly explain 55.3% of the variation in cryptocurrency investment decisions, while the remaining 44.7% is associated with factors outside the model. These findings highlight the relevance of investment knowledge in understanding cryptocurrency investment decisions, while the role of return expectations is not statistically supported in this sample