1 documento indexado para o autor: Diana

This study aims to analyze the factors influencing cryptocurrency investment decisions in Indonesia, with a particular focus on perceived usefulness, risk propensity, and the role of motivation as a mediating variable. The study adopts a quantitative approach with a descriptive–verificative research design, drawing upon the theoretical frameworks of the Technology Acceptance Model (TAM) and the Risk Propensity Scale (RPS). Data were collected through an online questionnaire administered to 300 respondents who had experience with or interest in cryptocurrency investment, using a convenience sampling technique. The data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS.  The results indicate that perceived usefulness and risk propensity have a positive and significant effect on cryptocurrency investment decisions. Furthermore, motivation is found to play a significant mediating role, strengthening the influence of both perceived usefulness and risk propensity on investment decisions. These findings suggest that cryptocurrency investment decisions are not solely driven by rational considerations such as perceived benefits and risk tolerance, but are also significantly influenced by psychological factors, particularly individual motivation. This study contributes theoretically to the literature on digital investment behavior and offers practical implications for regulators, cryptocurrency platforms, and industry stakeholders in designing effective education strategies, financial literacy initiatives, and digital asset adoption policies in Indonesia.