More than a fifth of young Americans own cryptocurrencies, and younger generations invest in cryptocurrencies four times more frequently than older generations, according to an April 9 PolicyGenius survey.
Gen Z, between the ages of 18 and 26, showed the highest preference for cryptocurrencies over traditional investments. 20% of Gen Z respondents own cryptocurrencies, 18% own stocks, 13% own real estate, and 11% own bonds.
Millennials between the ages of 27 and 42 are investing slightly more in cryptocurrencies than Gen Z respondents, with 22% owning cryptocurrencies.
However, millennials' cryptocurrency ownership did not exceed traditional investment rates, with 27% invested in stocks and 24% invested in real estate. Bonds are less popular among age groups, with only 16% investing in bonds.
The study also found that 9% of Gen Z respondents own NFTs, compared to 8% of Millennials.
generational divide
The investment rate of each generation indicates their interest in cryptocurrencies in absolute terms, but the numbers are very significant compared to older generations.
PolicyGenius found that the two oldest generations reported significantly lower ownership of cryptocurrencies overall. In the Gen X category, 10% of respondents owned cryptocurrencies and 4% owned NFTs.
Meanwhile, only 5% of boomers own cryptocurrencies and only 1% own NFTs.
Generational disparities are also relevant to real estate investment. Considering Gen Z and Millennial investment rates together, 21% of respondents own cryptocurrencies and 20% own real estate. However, despite being significantly closer within age groups, older investors invest in real estate at a significantly higher rate, with 45% of baby boomers investing in this category.
The report said housing shortages and rising housing costs could prevent young individuals from investing in real estate, making alternative investments such as cryptocurrencies more attractive.
