Survey Shows 25% Of US Teens Prefer Cryptocurrency Investment

A new survey shows that teens still receive more persuasion from investing in the stock market, yet, the cryptocurrency sector has become more popular than other alternatives such as real estate.

Researchers tried to probe the perceptions of teens in North America on cryptocurrency industry, the stock market. They also included other investments types in the era of high-octane GameStop.

The research result revealed that the cryptocurrency industry took the lead ahead of other asset classes like real estate. For example, one in four teens prefers cryptocurrency investment if given enough funds than 24% in real estate.

About 43% of the teens maintain that it’s best to invest in the stock market, while up to 37% stick to not investing at all. The survey was jointly conducted by RSM US and Junior Achievement in mid-July this year. They conducted it amidst a small group of over 1,000 teens between 13 to 17 years.

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

Among the respondents, 39% who followed the GameStop saga concurred that stock market investment pays better. However, 20% argued that trading stocks are generally too risky. 40% believed that long-term stock investment is more advantageous.

The survey leaders indicated their plan to reinstate the teens’ confidence that stock market investment is the best. In addition, they will change the negative perception the teens had after observing GameStop’s retail investor’s fate instead of hedge funders.

Jack Kosakowski, the CEO and president of Junior Achievement USA, made his thoughts in his statements. He stated that the survey results show that the present meme stock incident may be affecting the teens’ perceptions.

Also, he added that it could be affecting their perception of what investing in the stock market means. Jack advised that it’s important for them to help demystify the stock market investment to the future generation.

The Stock market investment has played a vital role in helping numerous Americans to gain a secure retirement. RSM and Junior Achievement have tried changing teens’ perceptions by supporting educational programs on the pro-stock market. The programs include a curriculum scheduled to clarify basic investment tenets and simulated stock market ordeals.

Related Reading | Monetary Authority Of Singapore Puts Binance On Investor Alert List For Violating Payment Laws

According to the survey result, the group’s major challenge is the belief of 51% of the teens. They have concluded that the stock market is good for ordinary people.

As per the past reports, there is an increasing dependence on speculative investments in many parts of the world. It has become prominent among Millennials that struggle to meet up with suppressed wages. The Millennials also struggle with job insecurity and high prices of real estate.