Galaxy Digital CEO Mike Novogratz believes that the so-called great wealth transfer could give a huge boost to Bitcoin (BTC) and other digital assets. In a new CNBC interview, the billionaire says that the millennials, who stand to inherit the largest transfer of wealth in history, are more inclined to invest in digital assets than […]
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Galaxy Digital CEO and founder Mike Novogratz believes that a transfer of wealth to the next generation could inject $225 billion into Bitcoin (BTC) and other cryptocurrencies. Novogratz tells his 461,900 followers on the social media platform X that he believes that millennials are more inclined to invest in digital assets than baby boomers. “This […]
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Younger investors are more likely to take part in copy trading or social trading and take advice from social media influencers, according to the crypto exchange.
Generation Z crypto investors are more likely to engage in copy trading or social trading — an investment method that involves mirroring the trades of a selected other — according to a report from crypto exchange Bitget.
In an Aug. 3 report on copy trading by Bitget, the firm revealed that out of all of its copy traders, 44% of them were under 25 years of age. This was followed by 25 to 35-year-olds accounting for just under one-third.
The older generation, 35 to 55-year-olds made up of 17% of copy traders, while those over 55 made only 7% of the total.
Copy trading or social trading has been offered by exchanges in both traditional stocks and crypto. In the crypto space, it is currently offered by exchanges including eToro, Bybit and MEXC, among others.
Users can choose to use an automated tool that essentially copies positions opened and managed by a chosen individual.
Bitget suggested Gen Z's inclination to look to social media influencers for investment decisions could explain their affinity towards copy trading.
A January Forbes Advisor survey said around 80% of Gen Z and millennials took financial advice from social media. Half claimed to have made money from the advice received and YouTube, Reddit and TikTok were the most trusted platforms.
Crypto was found as the most popular investment for Gen Z in a May report from the CFA Institute and the Financial Industry Regulatory Authority (FINRA) Foundation.
44% of United States Gen Z investors started with a crypto investment compared to 35% of millennials. 43% of British and 35% of Canadian Gen Z investors also said crypto was their first investment.
Related: Crypto trader weighs in on possible Bitcoin extinction scenarios
Bitget’s report claimed most of its copy-trading users — nearly a third — were Western European but nearly half hailed from either East or Southeast Asia, its next two largest geographic segments.
Despite making up 1% of Bitget’s global copy traders 62% of African users were interested in copy trading — the highest proportion of any region.
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The study featured over 255,000 respondents across 26 countries in four age groups.
A new survey suggests that 46% of millennials across major population countries, such as the United States, China, Japan, Germany, Indonesia and Nigeria, own cryptocurrencies.
The study, conducted between July 2022 and January 2023 and published on April 28 by cryptocurrency exchange Bitget, featured approximately 255,000 adult respondents from 26 countries, with around 10,000 respondents per country. The survey revealed that 46% of millennial respondents owned cryptocurrencies, compared with 25% of Gen X, 21% of Gen Z and 8% of baby boomers. The confidence interval for the study is 95%, with a margin of error of ± 0.1%.
In addition, 4% of baby boomers, 6% of Gen X, 27% of millennials and 36% of Gen Z respondents said they considered cryptocurrency regulation an important factor when voting for political candidates. Bitget staff wrote:
"[B]y the beginning of the next decade, demographic processes may lead to a dramatic shift towards increased acceptance of cryptocurrencies as a higher proportion of younger generations continue to exhibit strong demand for crypto, despite the slowdown in population growth."
Other studies also suggest that Gen Z and millennials tend to have the highest adoption rates for cryptocurrencies out of all population groups. In October 2022, a Charles Schwab survey revealed that almost 50% of Gen Z and millennials want crypto in retirement funds. The survey also found that 43% of Gen Z and 47% of millennials already invest in cryptocurrencies outside their 401(k) retirement accounts.
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The popularity of cryptocurrency as an investment vehicle is dwindling in the U.S., according to a survey made by Bankrate. The survey found that trust in crypto has diminished across several groups, with millennials losing 20% of their trust in the assets — more confidence lost than in the other generational groups surveyed. Investors Losing […]
A new survey conducted by Harris Poll has found that most cryptocurrency investors in America feel they have the necessary tools to become billionaires in the future. The survey, which inquired about how Americans see billionaires, also revealed that this sentiment is higher amongst millennials and Gen Zers, with other groups falling behind Crypto Still […]
A firm allowing clients to fund retirement accounts with crypto is revealing how millennials view the stock and digital assets markets. A new study by Alto surveyed 1,200 millennials aged 25-40 with at least $2,500 in investable assets and $35,000 in household income. The research finds millennials are enthusiastic about virtual assets as 39% of them […]
The post Millennials ‘Enthusiastic’ About Crypto As Majority Say Stock Market Investing Is Too Risky: New Study appeared first on The Daily Hodl.
Young Americans are choosing crypto over mutual assets and ETFs to invest their stimulus checks.
A new survey has found that more than one in ten American citizens aged between 18 to 34 have invested part of their Covid-19 stimulus checks into crypto assets.
Conducted by CNBC and research firm Momentive, the survey queried 5,530 adults and found that 11% of survey participants had purchased cryptocurrency with their stimulus money.
Roughly half of the respondents were found to have funneled their stimulus money into investments broadly — with 15% seeking exposure to stocks, 9% investing in mutual funds, and 6% backing exchange-traded funds (ETFs).
The majority of young Americans appear bullish on cryptocurrency’s future prospects, with 60% of survey participants indicating they see digital assets as a long-term investment. By contrast, 21% described crypto as a short-term investment, while 26% said they are engaging with the market out of excitement.
Crypto appetites among young Americans also appear to be growing, with a Harris Poll carried out in March indicating that only 7.5% of respondents had invested their stimulus checks into digital assets at the time.
The Momentive Poll also noted a surge in investment interest amongst Millennials and Gen Zers during 2020. The survey found that most young Americans used mobile trading apps to invest while social media is their dominant source of market analysis.
Related: 98% of CFOs say their hedge fund will have invested in Bitcoin by 2026: Study
Those who were game enough to invest their first stimulus check into crypto last year are reaping handsome rewards.
According to Bitcoin Stimulus, citizens who invested the entirety of the first $1,200 stimulus checks issued on April 15, 2020 into BTC would currently be sitting on more than $8,600 — a 620% gain.
Young crypto investors in Australia are seeing sizable profits from their cryptocurrency investments too.
According to a survey of Australians commissioned by local crypto exchange Swyftx, 20% of participants identifying as a Millennial or Gen Xer reported profiting by tens of thousands from crypto investments over the past 12 months.
