Insight of the Day: ‘The kids are not all right’: Gen Zers and millennials are as likely to own crypto as real estate
- InsightTrendsWorld
- Apr 11, 2024
- 2 min read
The ownership of digital assets among younger generations, particularly Gen Z and millennials, is on par with traditional assets like real estate, according to a recent Policygenius survey. Here are some key points from the survey:
1. Ownership of Digital Assets vs. Real Estate: Approximately one-fifth of Gen Z and millennial respondents own digital assets, which matches the number of respondents who own a house. This indicates a significant interest in digital assets among younger generations.
2. Crypto Ownership vs. Stock Ownership: Interestingly, Gen Z and millennials are more likely to own cryptocurrency (20%) than stocks (18%). This suggests a shift in investment preferences towards digital assets, possibly due to factors such as accessibility and perceived growth potential.
3. Challenges in Real Estate Ownership: Home affordability is declining, driven by factors such as high interest rates, wage stagnation, and low housing supply. This presents challenges for younger generations looking to enter the real estate market, leading some to explore alternative investment opportunities like cryptocurrency.
4. Rise of Cryptocurrency Prices: The price of Bitcoin has surged in recent months, reaching an all-time high in March 2024. This price appreciation, coupled with the digital-native nature of younger generations, has made cryptocurrency investing more accessible and attractive.
5. Financial Advice and Trends: The survey also highlights the sources of financial advice for younger generations, with a notable percentage (9%) turning to social media for guidance. Additionally, millennials and Gen Zers are embracing financial trends and "hacks" born on social media platforms, such as no-spend challenges and maximizing credit card rewards.
Overall, the survey underscores the growing interest in digital assets among younger generations, driven by challenges in traditional asset markets like real estate and evolving trends in financial behavior and advice-seeking.
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Whoa... what a timely and honest article. I relate hard to the feeling of wanting to escape traditional financial traps, and yeah - crypto felt like that door. I started on Gemini after hearing good stuff and it’s been a surprisingly smooth entry into a very chaotic space. What I’ve learned: don’t chase trends, build your own strategy and stick with it. The emotional side of investing is real - don’t ignore it.