According to a survey commissioned by the insurance platform Policygenius and conducted by YouGov, one-fifth of American adults under the age of 42 own cryptocurrency. The survey also found that members of Generation Z are more likely to hold cryptocurrency than stocks, as they adopt different methods of financial planning compared to older generations.
The “2024 Policygenius Financial Planning Survey,” released on Tuesday, revealed that among the surveyed Generation Z adults aged 18 to 26, approximately 18% own stocks and 20% own cryptocurrency. In the Millennial generation (ages 27 to 42), 27% own stocks and 22% own cryptocurrency.
For reference, 33% of Baby Boomers (ages 59 to 77) own stocks, with only 5% owning cryptocurrency, while a staggering 45% own real estate. In the Generation X (ages 43 to 58) group, 27% own stocks and 10% own cryptocurrency.
Source:
Policygenius
This survey was conducted from October 16 to 19, 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 Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the CFA Institute also reached similar conclusions in May of last year. According to their survey, approximately 56% of Generation Z holds some form of investment, with around 55% owning cryptocurrency and 41% owning individual stocks.
Data source
