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A recent survey released on Tuesday indicates that younger generations are more inclined towards investing in cryptocurrency compared to traditional stocks. According to the 2024 Policygenius Financial Planning Survey, approximately 18% of Gen Zers own stocks, while 20% own cryptocurrency. This trend suggests a shift in financial planning strategies among younger demographics, with a greater emphasis on digital assets.
The survey, conducted by YouGov on behalf of Policygenius in mid-October, polled 4,063 Americans aged 18 or older, with an average margin of error of +/-2%. The findings reveal a stark difference in investment preferences between generations, as only 33% of Boomers own stocks, and a mere 5% are invested in cryptocurrency.
Myles Ma, a certified personal finance counselor at Policygenius, highlighted the evolving wealth storage patterns of younger generations, which include embracing novel investments like cryptocurrency. Ma suggested that this shift could indicate a willingness among younger investors to take risks with their finances, potentially influenced by factors such as the housing shortage.
Interestingly, a similar conclusion was reached by the Financial Industry Regulatory Authority Foundation and the CFA Institute in May of the previous year. Their survey revealed that approximately 56% of Gen Zers hold some form of investments, with 55% of them invested in cryptocurrency and 41% in individual stocks, further underscoring the growing popularity of digital assets among younger investors.
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