According to a PolicyGenius poll conducted on April 9, more than one-fifth of young people in the United States own cryptocurrencies, with individuals in younger generations investing in cryptocurrencies 4 times more than older generations.
Generation Z, which includes ages 18-26, showed the highest preference for cryptocurrencies over traditional investments – 20% of Gen Z respondents own cryptocurrencies, while 18% own stocks, 13% own real estate, and 11% own bonds.
Millennials ages 27-42 invest in cryptocurrencies slightly more often than Gen Z participants, with 22% of them owning cryptocurrencies.
However, millennial cryptocurrency ownership has not surpassed traditional investment rates – with 27% invested in stocks and 24% in real estate. Bonds are less popular among the age group, with only 16% investing in bonds.
The survey also found that 9% of Gen Z respondents own NFTs versus 8% of Millennials.
Generation gap
Although the investment rates for each generation show some interest in cryptocurrencies in an absolute sense, the numbers are very significant compared to older generations.
PolicyGenius found that the oldest two generations reported a significant decline in cryptocurrency ownership overall. In Generation X, 10% of participants own cryptocurrencies, while 4% own NFT tokens.
Meanwhile, only 5% of baby boomers own cryptocurrencies, and only 1% own NFTs.
The generation gap is also relevant in relation to real estate investing. When looking at investment rates among Gen Z and Millennials together, 21% of respondents own cryptocurrencies, while 20% own real estate. But despite the remarkable convergence of this age group, older investors have much higher real estate investment rates, with 45% of boomers investing in this group.
According to the report, housing shortages and rising housing costs may prevent younger individuals from investing in real estate, which could increase the attractiveness of alternative investments such as cryptocurrencies.
