Social Media Marketing Dan Influencer Marketing Terhadap Partisipasi Investor Cryptocurrency: Peran Pengetahuan In-vestasi Sebagai Variabel Intervening

Enrico Bayu Aji (Universitas Dian Nuswantoro)
Vincent Didiek Wiet Ariyanto (Universitas Dian Nuswantoro)
Awanis Linati Haziroh (Universitas Dian Nuswantoro)
Adilla Kustya Ulfa (Universitas Dian Nuswantoro)

Jurnal Akuntansi, Ekonomi dan Manajemen Bisnis
Vol. 6 No. 2 (2026): Juli : Jurnal Akuntansi, Ekonomi dan Manajemen Bisnis

This study investigates the influence of Social Media Marketing and Influencer Marketing on Cryptocurrency Investor Participation, with Investment Knowledge as an intervening variable. Using purposive sampling, data were collected through online questionnaires from individuals who have invested in crypto assets. The analysis was performed using PLS-SEM with SmartPLS 4.0. The findings indicate that both Social Media Marketing and Influencer Marketing positively affect Investment Knowledge. However, Influencer Marketing does not directly influence Investor Participation, and becomes significant only when mediated by Investment Knowledge. In contrast, Social Media Marketing does not affect participation even through the mediation of knowledge. These results suggest that digital marketing and influencers are more effective in enhancing investor knowledge rather than directly encouraging investment actions. Greater understanding of risks, transactions, and potential returns increases investors’ confidence to participate in Cryptocurrency investments.