Luc Smits van Oyen
American “Gen z” invests stimulus checks into crypto
A recently conducted survey shows that 11% of U.S. citizens between the ages of 18 and 34 have invested a portion of their Covid-19 stimulus checks in cryptocurrencies.
CNBC and research firm Momentive, in collaboration, conducted this survey in the U.S., taking a sample of 5530 young adults. About half of these were found to use their stimulus checks for investments in general, with 15% exposing themselves to stocks, 9% getting into mutual funds and 6% using their money to purchase exchange traded funds (ETFs).
The majority of young Americans appear optimistic about the future prospects of the cryptocurrency market, with 60% of survey participants indicating that they view digital assets as a long-term investment. In contrast, 21% described crypto as a short-term investment, while 26% said they engage with the market out of enthusiasm.
Demand for crypto also seems to be increasing among young Americans, as a March Harris Poll found that at the time only 7.5% of respondents had invested their stimulus checks in digital coins.
The Momentive Poll noticed a proportional increase in investment interest in the 18-34 group, so also among Millennials and Gen Zers. The poll found that most young Americans use mobile trading apps to invest, while social media is their dominant source of market analysis.
Still, almost everyone who had the guts to invest their first stimulus check in crypto last year, no matter what analysis was performed, will now reap great profits from it.
According to Bitcoin Stimulus, citizens who invested the entirety of the first $1,200 stimulus checks issued on April 15, 2020 in BTC would currently be sitting on more than $8,600 - a 620% gain.
Young crypto investors in Australia are also seeing significant gains from their cryptocurrency investments.
According to a survey of Australians commissioned by local crypto exchange Swyftx, 20% of participants who identified themselves as a Millennial or Gen Xer reported that they had made tens of thousands in profits from crypto investments in the past 12 months.
CNBC and research firm Momentive, in collaboration, conducted this survey in the U.S., taking a sample of 5530 young adults. About half of these were found to use their stimulus checks for investments in general, with 15% exposing themselves to stocks, 9% getting into mutual funds and 6% using their money to purchase exchange traded funds (ETFs).
The majority of young Americans appear optimistic about the future prospects of the cryptocurrency market, with 60% of survey participants indicating that they view digital assets as a long-term investment. In contrast, 21% described crypto as a short-term investment, while 26% said they engage with the market out of enthusiasm.
Demand for crypto also seems to be increasing among young Americans, as a March Harris Poll found that at the time only 7.5% of respondents had invested their stimulus checks in digital coins.
The Momentive Poll noticed a proportional increase in investment interest in the 18-34 group, so also among Millennials and Gen Zers. The poll found that most young Americans use mobile trading apps to invest, while social media is their dominant source of market analysis.
Still, almost everyone who had the guts to invest their first stimulus check in crypto last year, no matter what analysis was performed, will now reap great profits from it.
According to Bitcoin Stimulus, citizens who invested the entirety of the first $1,200 stimulus checks issued on April 15, 2020 in BTC would currently be sitting on more than $8,600 - a 620% gain.
Young crypto investors in Australia are also seeing significant gains from their cryptocurrency investments.
According to a survey of Australians commissioned by local crypto exchange Swyftx, 20% of participants who identified themselves as a Millennial or Gen Xer reported that they had made tens of thousands in profits from crypto investments in the past 12 months.