- Young people are not planning to buy cryptocurrencies any time soon.
- This trend may influence the development of the industry.
Generation Z is teens and young adults born after 1995 and aged between 13 and 21. While the majority of them are still too young, to make independent financial decisions, they are our future, and they are shaping the world we are going to live in.
Meanwhile, a majority of Gen Z are not going to buy Bitcoin or other digital currencies in the nearest future, according to the recent research performed by Business Insider.
Thus, out of 1,884 people surveyed by the media outlet, 52% said they would not purchase cryptocurrency in the next six months, while 17% said they were not likely to do so. Only 26% of young people confessed that they were somewhat likely, very likely, or extremely likely to purchase digital coins over the specified timeframe.
Considering that the share of Gen Z in the US population surpassed 25% and growing, results of the survey on the pace of cryptocurrency adoption may have more profound implications than those that lie on the face of it.
These kids shape the consumer market as 74% of mothers admit that their kids influence the choice of clothes and mobile devices, according to recent research. It won't take long for them to influence financial decisions of their parents as well, as they are eager to become financially independent to look for ways to earn and save money.
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