Survey Reveals “Gen Z” More Likely to Invest in Cryptocurrencies than Stocks

Survey Reveals "Gen Z" More Likely to Invest in Cryptocurrencies than Stocks

Survey Reveals "Gen Z" More Likely to Invest in Cryptocurrencies than Stocks

According to a survey commissioned by insurance platform Policygenius and conducted by YouGov, one-fifth of American adults under the age of 42 own cryptocurrencies. The survey also found that Generation Z adults are more likely to hold cryptocurrencies than stocks, as they adopt different approaches to financial planning compared to the older generation.

The “2024 Policygenius Financial Planning Survey,” released on Tuesday (9th), revealed that among the surveyed Generation Z adults (aged 18 to 26 at the time of the survey), approximately 18% own stocks and 20% own cryptocurrencies. In the Millennial generation (aged 27 to 42), 27% own stocks and 22% own cryptocurrencies.

For reference, 33% of Baby Boomers (aged 59 to 77) own stocks, with only 5% owning cryptocurrencies, and a staggering 45% owning real estate. 27% of Generation X (aged 43 to 58) own stocks, and 10% own cryptocurrencies.

Source: Policygenius

This survey was conducted from October 16th to 19th, 2023, with a total of 4,063 American participants aged 18 or above. Myles Ma, a certified personal finance advisor at Policygenius, stated in a statement that the FINRA Investor Education Foundation and CFA Institute reached similar conclusions in May of last year. According to their survey, approximately 56% of Generation Z owns some form of investment, with around 55% owning cryptocurrencies and 41% owning individual stocks.

Data source