0
0
Youthful American Investors Favor Crypto Over Traditional Investments
A recent survey conducted by PolicyGenius on April 9 revealed a notable trend among young Americans towards cryptocurrency ownership. According to the survey, more than 20% of individuals in the United States belonging to the younger demographics have invested in cryptocurrency. This percentage exceeds the rate at which older generations engage in crypto investments by a significant margin, indicating a generational divide in investment preferences.
Generation Z and Millennials Leading the Way
Among the respondents, Generation Z emerged as the group most inclined towards crypto investments compared to traditional options such as stocks, real estate, and bonds. A staggering 20% of Gen Z individuals, falling within the age range of 18 to 26, own cryptocurrency. In contrast, ownership rates for stocks, real estate, and bonds stood at 18%, 13%, and 11% respectively within the same age group.
While millennials aged 27 to 42 also displayed a keen interest in crypto investments, with 22% of them owning cryptocurrency, their ownership rates did not surpass those of traditional investment avenues. Stocks and real estate proved to be more popular among millennials, with ownership rates of 27% and 24% respectively, while bond ownership stood at 16%.
The survey further highlighted that 9% of Gen Z respondents own Non-Fungible Tokens (NFTs), compared to 8% of millennials, showcasing a growing interest in digital assets among younger investors.
Inter-Generational Contrasts in Investment Choices
When analyzed collectively, the investment rates of Gen Z and millennials in cryptocurrency and real estate were found to be strikingly close, with 21% of respondents owning cryptocurrency and 20% owning real estate. However, older generations displayed a markedly higher preference for real estate investments, with 45% of baby boomers investing in this category.
The disparity in investment preferences across generations may be attributed to factors such as housing shortages and burgeoning housing costs, which could deter younger individuals from investing in real estate. As a result, alternative investment avenues like cryptocurrency are increasingly gaining traction among the youth, presenting lucrative opportunities beyond traditional asset classes.
Image/Photo credit: source url
