This is evident from a study by PolicyGenius April 9More than a fifth of young people in the US own crypto, as individuals in younger generations are four times more likely to invest in crypto than older generations.
Generation Z, which includes the 18 to 26 age group, showed the greatest preference for crypto over traditional investments: 20% of Gen Z respondents own crypto, while 18% own stocks, 13% real estate and 11% own bonds.
Millennials between the ages of 27 and 42 are slightly more likely to invest in crypto than Gen Z respondents: 22% own crypto.
However, millennials’ crypto ownership did not exceed traditional investment rates, with 27% invested in stocks and 24% in real estate. Bonds are less popular among this age group: only 16% invest in bonds.
The survey also found that 9% of Gen Z respondents own NFTs, compared to 8% of millennials.
The generation gap
While each generation’s investment figures show some interest in crypto in absolute terms, the numbers are highly significant compared to older generations.
PolicyGenius found that the two oldest generations reported significantly lower crypto ownership overall. In the Gen X category, 10% of respondents owned crypto, while 4% owned NFTs.
Meanwhile, only 5% of boomers own crypto, and only 1% own NFTs.
The generation gap is also relevant when it comes to real estate investments. When looking at the investment rates of Gen Z and Millennials together, 21% of respondents own crypto, while 20% own real estate. But despite the remarkably close percentage within this age group, older investors have significantly higher real estate investment rates, with 45% of boomers investing in this category.
Housing shortages and high housing costs may deter younger people from investing in real estate, potentially increasing the appeal of alternative investments such as crypto, according to the report.