A recent study published by Gamblers Pick states that Gen Xers are less likely to invest in traditional investments such as 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
Web portal gamblerspick.com published a study in late April that shed light on investment options for Gen Xers. Generation Z or Gen Z for short is a demographic that makes Millennials successful.
The group, colloquially known as “Zoomers”, originated from the mid-1990s to the early 2010s. The Gamblers Pick survey states that Gen Xers are more suitable to invest in cryptocurrencies and NFTs than traditional stocks.
The poll was polled by 872 people and 24% of the group represented Gen Z and 27% were Millennials. “25% were Gen Xers, and 24% were Baby Boomers or older,” said the Gamblers Pick study. Some of the key findings state that Gen Zs have a collective preference but are still more likely to invest in accessories such as sneakers and clothing.
Interestingly, the Gen Z crowd noted why they were investing and mentioned fighting “against institutions” and “participating in a movement”.
With things like meme assets, cryptocurrencies, and NFTs at the forefront of investing, Gambler’s pick says zoomers deal with high-risk investments better than older generations.
“Baby boomers (and older respondents) preferred to be a little safer with their investments,” the Gambler Pick researchers elaborated. Instead of technical analysis and stock fundamentals, Gamblers Pick said Gen Z will take “tips and opinions” from Reddit, social media, and family and friends.
In the end, Study 872 respondents reveal that zoomers believe markets are manipulated and that high-net-worth individuals and institutions rule.
“Generally speaking, baby boomers (and older) were a little more skeptical about these theories, but the younger generation was pretty sure there was some truth behind them,” concluded the study’s researchers.
What do you think about Generation Z preferring cryptocurrencies, memes and NFTs to traditional investments like stocks? Let us know what you think about this topic in the comment section below.
image credit: Shutterstock, Pixabay, WikiCommons, gamblerspick.com Survey
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