Topic: A majority of Gen Z investors think crypto will make them millionaires - page 3. (Read 427 times)

When I see surveys like this, I always wonder how representative they truly are. The article's also written in quite a cherry-picking way. For example, take a look at a simple one-page summary of the survey, and you'll see that the article doesn't mention that on the question of investment instruments, the most popular response for Gen Z is actually stocks, and the same goes for millennials. Also, real estate is almost as popular among Gen Z and millennials as cryptos are, and a slightly higher percentage of millennials than of Gen Z chose cryptos. Given this summary, it doesn't really look like Gen Z is so special, really, and that cryptos are so popular among them.

All the years that are determined by Generation Z are associated with the development of computer technology. And of course, here one cannot but recall bitcoin and cryptocurrencies. The youngest areas of technology, of course, fall on the age of young people. And I agree that there will be many millionaires among them, but it's hard to imagine that among all of them. Only those who have the time and desire to study, to develop their knowledge and experience will become a gatherer. Even today, investing in bitcoin and managing these investments correctly for several years promises profit to young people.
But to round off that they are all sitting on sofas, and without acquiring any knowledge, but only hanging out on social networks and in online games, they will become rich, I think this is ridiculous.
The one who makes great efforts to his win always wins.

Its unforgiving but what's amazing is that even after a price correction, Gen Z is still are there buying more. Everybody learns when people say buy the dip.

That's because there's a lot of influencers on the Internet preaching that cryptocurrencies is the number one solution to someone's problem, I mean those people shill shitcoins and it's not far from thinking that some Gen Z kid would see that video and think that they might be able to make a living out of this cryptocurrencies when in reality, the market is unforgiving.

That's because there's a lot of influencers on the Internet preaching that cryptocurrencies is the number one solution to someone's problem, I mean those people shill shitcoins and it's not far from thinking that some Gen Z kid would see that video and think that they might be able to make a living out of this cryptocurrencies when in reality, the market is unforgiving.

Huh.  I didn't know Gen Zs were strictly US citizens.  Is that even true?

And what's up with that second statement about diversity?  It's really got nothing to do with the poll, and the injection of identity politics into a financial article really, really seems icky to me.  Is there nothing in the media nowadays that isn't laced with this crap?

Good; that means that as they grow older they're probably likely to become anti-government and more skeptical about the things they were brainwashed with as youths.  At least I hope that's the case, because if it isn't we're in some serious trouble.

Now here's the thing about those Gen Zs thinking they can become millionaires by dabbling in crypto:  Some of them really are getting extremely wealthy by taking those risks the article talked about and investing in not only dogecoin but all sorts of altcoins and experimenting with oddball stuff like NFTs and such.  So it's not as if they're out of their minds by believing in crypto as a cure for their financial woes, because when doge hit its ATH you know a bunch of people had to have just gotten rich.

One thing I'm hoping for is that when the Gen Zs grow up and become our future politicians, they retain their fondness for cryptocurrency and don't try to regulate it to death (if that hasn't happened by the time the new generation gets elected to positions of power).  I also think it's a great thing that youngsters have such a positive view about crypto.  I don't understand that whole "pro-government" stance that I quoted above (if it's true), because part of the reason bitcoin is so valuable is because of all the damage governments have done to fiat currency and the world economy in general.

Gen Z, a group of about 72 million people in the US born between 1997 and 2012, is the most diverse generation in American history in terms of race, ethnicity, and sexual orientation.

Broadly, this generation is progressive, pro-government, and activist-minded.

It sometimes seems crypto is minting new millionaires by the day, particularly those with the stomach to dabble in the risky world of altcoins. The most famous of these — like doge and shiba inu — have produced some eye-watering returns in 2021.

It's no surprise then that investors are flocking to the space with dreams of quick riches, and Gen Z investors, in particular, think crypto will make them millionaires, a recent study by research and data analytics firm Engine Insights showed.

Nearly two-thirds — 59%  — of Gen Z respondents to the survey believe they could become wealthy by investing in cryptocurrencies.

"This generation has a greater acceptance and comfort with all things digital, so not surprising that would be more comfortable with crypto," Kathy Sheehan, SVP at Cassandra, a division of Engine, told Insider. "This generation has a lot of concerns about debt and finances."

A confluence of factors, from the rising costs of real estate to college education could be to blame, Sheehan told Insider. Inflation reaching 30-year highs has only reinforced the appeal of crypto as the weakening of fiat money dominates headlines.

"They feel that everything financial is harder for them than it was for previous generations," Sheehan said. "Couple that attitude with more of an appetite for risk, it is not surprising that they are hoping for a quick fix or return."

Gen Z, a group of about 72 million people in the US born between 1997 and 2012, is the most diverse generation in American history in terms of race, ethnicity, and sexual orientation.
Broadly, this generation is progressive, pro-government, and activist-minded. They have also grown up in a period of watershed cultural moments including #MeToo and the post-George Floyd era, weathering a disruptive global pandemic on top of it all.

The survey, whose findings are based on responses from 1,027 people in November, also found that if offered $2,000 to invest, Gen Z respondents are three times more likely to buy digital assets compared to baby boomers, and twice as likely to consider virtual currency a "legit currency."

The crypto market has fluctuated wildly this year but has generally been trending higher. The crypto market capitalization hit $3 trillion recently.

Bitcoin has gained 100% since the start of the year, while ether is up 480%. Meme coins have had it better, with dogecoin rising 4,835% year-to-date and shiba inu skyrocketing 63,490,000%.
Many retail investors poured multiple rounds of government stimulus checks into stocks and crypto, helping fuel the surge in both markets seen during the pandemic.


https://markets.businessinsider.com/news/currencies/gen-z-crypto-survey-bitcoin-ether-dogecoin-cryptocurrency-investing-2021-11