Generation Z has little interest in buying crypto, according to survey

07 Jul, 2019
by David Robb
Analysis
Generation Z has little interest in buying crypto, according to survey

A recent survey carried out by Business Insider suggests that crypto adoption may not advance as much as many have predicted in the upcoming years. The majoriy of Generation Z apparently has no plans to buy crypto.

It might be expected that older demographics would be wary of Bitcoin and crypto as investments, due to their limited technical savvy and preference for traditional assets. However, it is likely to surprise many that the newest generation of teenagers and young adults are also reluctant to get involved with crypto.

Business Insider surveyed 1,884 Americans aged between 13 to 21, a demographic most commonly referred to as 'Generation Z', whose members are digital natives. Over 52 percent of those surveyed claimed that they were not at all likely to purchase cryptocurrencies within the next six months. Around 17% went for 'not so likely' as an option, while just over 26 percent said that they were at least 'somewhat likely' to invest in crypto over the same time period. Previous surveys have shown that Gen Y, the age range just above this one, has the most interest in Bitcoin and crypto investments. 

Although this is definitely an interesting finding, its debatable exactly how relevant this data is. The survey was carried out before the recent BTC bull run started to gather steam, and this may have gone some way towards convincing Gen Z that crypto might be worth their time again, after the crash from the ATH a year and half ago and the ongoing bear market damaged its reputation. Business Insider claims that the "reinvigorated market could cause some of the teens in the survey to rethink their position".

Also, it is possible that crypto investment could be much more popular with this age group in other nations, where people may be even more tech-savvy and perhaps more financially literate than Americans.

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