The popularity of crypto is undoubtedly rising. People who were skeptical about crypto four years ago are embracing it now. Global nations are also trying to incorporate cryptocurrency. Many countries have just started formulating regulations around crypto, while many have already completed them.
Several nations, including the UAE, are trying to establish themselves as crypto hubs. They are doing this because they truly understand the rising potential and interest in cryptocurrencies.
A lot of studies are now being conducted to analyze the increase of interest in cryptocurrencies. An analysis was conducted recently by a new Charles Schwab study. The study reveals some interesting information regarding the rising interest in cryptocurrencies among the younger generations.
Nearly half of Gen Z wish to invest in cryptocurrencies via a 401K
The study, which was conducted in April, was a survey of 1,000 US 401K plan participants. The Charles Schwab study concluded that 37% of the Gen Z working class and 54% of millennials entered into investing through a 401K. The study also reveals that investing in cryptocurrency is one of the top five methods for Gen Z and millennials.
In fact, the numbers show that 31% of Gen Z and 35% of millennials have invested in cryptocurrency. This is comparatively higher than the numbers of Gen X and the baby boomers.
As opposed to their older counterparts, the two younger sectors are more likely to also invest in cryptocurrencies, real estate, annuities, and small enterprises. Thirty-two percent of the participants also stated that they wished to invest in crypto via their 401K. Out of the 32%, 46% are Gen Z and 45% are millennials.
The study reveals the rising interest in crypto investments among the younger generation. This is also a sign of the rise in interest in crypto investments as a retirement saving and investment option.