Report Reveals Generation Z and Millennials Favor Crypto Investments Over Traditional Stocks


A recent survey by Policygenius found that one in five American adults own cryptocurrencies.

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According to a recent survey, younger Americans are more likely to own cryptocurrencies than stocks, indicating a change from older generations’ preferred financial assets and investment strategies.

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4,063 adult respondents in the United States participated in the study, which was carried out between October 16 and October 19 and released by the Policygenius Financial Planning Survey on April 9. According to the survey, compared to their older counterparts, 20% of Gen Zers (ages 18–26) and 22% of millennials (ages 27–42) are significantly more likely to invest in alternative assets like cryptocurrencies and nonfungible tokens (NFTs).

The survey also showed that, compared to 28% of Gen Xers and 45% of Baby Boomers, only 18% of Gen Z respondents said they owned stocks.

Myles Ma, an analyst at Policygenius, wrote:

“Younger generations store their wealth differently than their Gen X and boomer counterparts, including novel investments like cryptocurrency. This could show a bigger willingness to take risks with their money, but it could also reflect obstacles they can’t control, like the growing housing shortage.”

Furthermore, compared to Gen X (3%) and baby boomers (1%), 9% of Gen Z and 8% of millennials stated they are more likely to turn to social media first when they have financial questions.


The survey sheds light on young investors’ financial attitudes beyond the specifics of cryptocurrencies. These Gen Zers and Millennials are “somewhat proud” of their financial management abilities, despite the challenges of navigating today’s complex financial environments. This sentiment illuminates the proactive attitude of younger Americans toward financial independence and literacy.


Out of all demographic groups, Gen Z and Millennials appear to have the highest rates of cryptocurrency adoption, according to earlier research. A Bitget survey conducted in April 2023 found that 46% of millennials in the world’s largest economies—the United States, China, Germany, Japan, Indonesia, and Nigeria—own cryptocurrency.

A different Charles Schwab survey conducted in October of 2022 revealed that roughly 50% of Gen Z and millennials wanted their retirement savings to be invested in digital assets. In addition, the survey discovered that 47% of millennials and 43% of Gen Z already have cryptocurrency investments outside of their 401(k) retirement accounts.

The results of all these surveys show that younger investors are heavily weighting cryptocurrencies in addition to traditional stocks and real estate when diversifying their investment portfolios.CRYPTOCASTER® - DECENTRALIZED FREEDOM!

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