Younger Generations Lead the Way in Crypto Ownership: PolicyGenius Survey
Young Americans are leading the charge in the world of cryptocurrency, with a recent survey by PolicyGenius revealing that more than one-fifth of individuals in the US under the age of 42 own some form of digital currency. The survey, conducted on April 9, highlighted the stark generational divide in investment preferences, with younger generations showing a strong preference for crypto over traditional investments.
Gen Z, the youngest cohort surveyed, displayed the highest affinity for crypto, with 20% of respondents owning digital assets compared to 18% who own stocks, 13% who own real estate, and 11% who own bonds. Millennials, on the other hand, slightly edged out Gen Z in crypto ownership, with 22% of respondents holding digital currency.
Despite the growing popularity of crypto among younger investors, traditional investments still reign supreme among older generations. The survey found that only 10% of Gen X respondents and 5% of baby boomers own crypto, highlighting a significant generational gap in investment preferences.
The divide is also evident in real estate investment, with older investors showing a strong preference for property ownership. While 45% of boomers invest in real estate, only 20% of Gen Z and millennials combined own property. This trend may be attributed to housing shortages and high costs, which could be driving younger individuals towards alternative investments like crypto.
The survey also shed light on the growing popularity of non-fungible tokens (NFTs) among younger investors, with 9% of Gen Z respondents and 8% of millennials owning these unique digital assets. The rise of NFTs further underscores the shifting investment landscape, as younger generations seek out new and innovative ways to grow their wealth.
Overall, the survey highlights the changing dynamics of the investment landscape, with younger Americans embracing crypto and other alternative assets at a higher rate than their older counterparts. As digital currencies continue to gain mainstream acceptance, it will be interesting to see how these trends evolve in the years to come.
