According to research conducted by YouGov, Gen Z is much more willing to invest in digital assets than Generation X or Baby Boomers. Interestingly, similar research was also carried out a year ago and brought very similar conclusions. What makes young people prefer to invest in cryptocurrencies than in shares on the traditional stock exchange?
Gen Z prefers cryptocurrencies – results of the YouGov report
Generation Z, i.e. people born between 1996 and 2015, are more willing to invest in digital assets. At least this is according to a study conducted by YouGov on behalf of Policygenius. The Policygenius Planning Survey 2024 report shows that 20% of Gen Z own cryptocurrencies. Post-millennials are less likely to invest in shares on the traditional stock exchange, as only 18% of respondents declare such investments. For comparison, 33% of surveyed Baby Boomers (1947-1960) own shares, while only 5% invest in digital assets. It is worth adding that the study was conducted in mid-October on 4,063 US citizens.
According to a statement from certified advisor of the Policygenius insurance platform, Myles Ma:
Younger generations store their wealth differently than their Gen X and Baby Boomer peers, including in novel investments such as cryptocurrencies. This may show a greater willingness to take risks with money, but it may also reflect obstacles they cannot control, such as a growing housing deficit
Gen Z prefer BTC to real estate?
The survey results clearly show that Gen Z is much more willing to invest in cryptocurrencies than in real estate. According to the report, only 13% of GenZ and 24% of Millennials own real estate. In turn, in the case of Baby Boomers it is as much as 45%. Analysts in the report indicate that the reasons for this state of affairs are high interest rates, low demand on the real estate market and inflation.
Interestingly, the study was conducted in October 2023, when it was not yet known what the fate of BTC ETC applications would be. This is also the time when the BTC rate was at $25,000. Nevertheless, a similar study conducted a year ago by the Financial Industry Regulatory Authority Foundation and the CFA Institute pointed to very similar conclusions.
