A recent study published by Gamblerâ€™s Pick notes that Gen Zers are less likely to invest in traditional investments like equities and more likely to invest in cryptocurrencies, meme investments, and non-fungible tokens (NFTs).
Gen Z More Likely to Invest in Cryptocurrencies and Meme Investments Than Stocks and Common Assets
The group colloquially known as â€œzoomers,â€ were born between the mid-to-late 1990s and up until the early 2010s. The Gamblerâ€™s Pick survey notes that Gen Zers are more apt to invest in cryptocurrencies and NFTs over traditional stocks.
The survey polled 872 people and 24% of the group represented Gen Z and 27% were Millennials. â€œ25% were Gen Xers, and 24% were baby boomers or older,â€ the Gamblerâ€™s Pick study adds. Some key findings noted that Gen Z likes collectives but is still more likely to invest in stuff like sneakers and clothes.
Interestingly, the Gen Z crowd noted why they were investing and they mentioned fighting back â€œagainst institutionsâ€ and to â€œparticipate in a movement.â€
With things like meme assets, cryptocurrencies, and NFTs at the forefront of investment, Gamblerâ€™s Pick says that zoomers deal with high-risk investments better than older generations.
â€œBaby boomers (and older respondents) tended to prefer to be a little safer with their investments,â€ the Gamblerâ€™s Pick researchers detail. Rather than technical analysis and stock fundamentals, Gamblerâ€™s Pick said Gen Z would rather take â€œtips and opinionsâ€ from Reddit, social media, and family and friends.
Lastly, the study with 872 respondents shows that zoomers believe that markets are manipulated and high-net-worth individuals and institutions rule the roost.
â€œGenerally, baby boomers (and older) were a little more skeptical of these theories, but the younger generations were pretty sure thereâ€™s some truth behind them,â€ the studyâ€™s researchers concluded.
What do you think about Generation Z liking cryptocurrencies, memes, and NFTs over traditional investments like stocks? Let us know what you think about this subject in the comments section below.
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