Youth Nowadays Consider Crypto a Great Option for Investment
A recent survey conducted on a small group of teens between the ages of 13 to 17 has revealed that while the stock market might be the more appealing investment option, digital currencies have gained more popularity than alternative asset classes such as real estate.
An important factor in the answers obtained from the respondents was the controversy with retail gaming corporation, GameStop, at its center which 39% of them followed closely.
The study intended to inquire into the way teens regard the stock market as well as the crypto industry. The results revealed that cryptocurrency was ahead of the rest of the asset classes with one in four teenagers choosing a crypto investment if enough capital was provided, over the 24% who preferred real estate.
The Role of the GameStop Saga
CEO and president of Junior Achievement USA Jack Kosakowski thinks that the GameStop saga might be having a significant effect on the way teens now regard the stock market and investing generally.
While an estimated 43% of the teens believe that investing in the stock market was the best way to go, around 37% remain convinced that the best thing to do is to not invest at all.
Though the survey leaders have plans to restore confidence in the stock market, there are other notable reasons for improved regard for crypto investments.
Other Reasons For Increased Crypto Interest
Results from another survey carried out by student finance platform, Save the Student, show that in 2021, a significant number of students in the UK began using crypto investments as a means of supporting themselves financially.
Over 2000 students in the United Kingdom who were interviewed through May and August this year, shared their probable reasons for investing in cryptocurrencies. Majority (41 percent) of UK teenagers and young adults cite shortage of funds as a major catalyst behind their decision to invest in crypto, while others gave reasons such as the covid-19 pandemic and mental health.
Three-quarters of the respondents revealed that before now, they had considered quitting school due to a lack of funds. However crypto investments, amidst other forms of investments, have helped soften these blows.
The survey firmly reflects the recent shift in the general attitude of UK and US residents towards cryptocurrencies, which is now regarded as a serious option for investment.
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