According to a study conducted by Policygenius, it appears that members of Generation Z are more inclined towards investing in cryptocurrencies rather than stocks. The data reveals an intriguing trend in financial preferences among different age groups: approximately 20% of young Americans have invested in cryptocurrencies, and they do so at a rate four times greater than older generations.
Among Gen Z individuals aged 18-26, about one in five (20%) have invested in crypto assets. In comparison to this, only 18% own shares, 13% hold real estate, and 11% save in bonds. Contrastingly, millennials aged 27-42 have a higher percentage of savings in crypto at 22%, while their stock asset ownership is at 27%, and real estate investments account for 24%. Essentially, the older age group shows a greater preference for more traditional investment methods.
The survey highlighted that Gen Z makes up a significant portion in the NFT market, with 9% of its members and 8% of millennials being owners. In contrast, Gen X and Gen Z took the lead in crypto asset ownership, with almost half of Gen Zers and close to 2% of Baby Boomers holding these digital assets.
A discrepancy in real estate investment preferences emerged between different age groups. Approximately one in five Gen Z and millennial individuals (21%) have crypto assets, while an equivalent percentage (20%) own real estate. In contrast, a larger proportion (45%) of older investors opted for real estate investments.
The report indicates that a lack of affordable housing and elevated prices could explain why young people are turning to unconventional investments such as crypto assets instead of real estate.
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2024-04-11 12:20