Factors influencing Bitcoin investment intention: the case of Oman

Abstract

The current study examines the factors that might increase the investment in Bitcoin among Muslim communities. Oman is selected as a setting for this study due to the rapid progress in the Islamic finance and investment areas that the country has witnessed though ventured in this field relatively late compared to other countries. The study used a survey questionnaire to collect data for a sample of 200 respondents. Subsequently, the collected data was analysed using structural equation modelling (SEM) as well as basic descriptive statistics and one sample t-test. The findings revealed that the respondents perceive themselves to have sufficient awareness and knowledge of the Bitcoin concept and benefits, as well as the techniques used to manage a Bitcoin account. In addition, the findings revealed that factors such as perceived ease of use, compatibility, awareness and facilitating conditions have a significant impact on Omani communities' intention to invest in Bitcoin.