Abstract
E-retailers continue to introduce the use of Bitcoin cryptocurrency for e-commerce purchases. They require understanding the factors influencing consumers' behavioural intentions to adopt Bitcoin cryptocurrency. This paper makes a new contribution to the study area that entails Venkatesh et al. (2012) extended UTAUT measuring the additional three contextual variables – hedonic motivation (HM), price value (PV) and habit, thus creating the UTAUT2 model. Further, the moderating effect of social influence was tested in the theoretical framework. An online survey recruited a convenient sample of 200 consumers of online retailers in South Africa. Upon processing data into AMOS 28 for Structural Equation Modeling (SEM), the results show that hedonic motivation (HM) and habit (H) have a significant positive impact on consumers' behavioural intentions to use Bitcoin for e-commerce. Surprisingly, price value (PV) did not significantly impact behavioural intentions to use Bitcoin for e-commerce. Nevertheless, the effects of hedonic motivation and habit on the behavioural intentions of Bitcoin users were not significantly moderated by social influence as was expected. The study offers theoretical and practical implications for understanding consumers' behavioural intentions to use Bitcoin cryptocurrency in the e-commerce industry.