59 % of Gen Z suppose that cryptocurrency will make them millionaires: Survey

Fuelled by the hype and ads, younger buyers are flocking to cryptocurrency exchanges with desires of incomes fast earnings, and Gen Z buyers particularly suppose cryptocurrency could make them millionaires, a brand new report by information analytics agency Engine Insights confirmed.
At least 59 % two thirds of Gen Z respondents (born between 1997 and 2012) consider that they might change into properly off by investing into digital currencies. And 46 % of Millennials (born between 1981 and 1996) consider they might change into millionaires from cryptocurrency investments.
The survey was performed amongst 1,027 adults who’re 18 years of age and older. A complete of 31 % of US Adults consider they’ll change into millionaires off crypto investments, the survey added.
“This generation has a greater acceptance and comfort with all things digital, so not surprising that would be more comfortable with crypto,” stated Kathy Sheehan, SVP at Cassandra, a division of Engine Insights, as quoted by Insider.
According to a brand new report by Crypto Research and Intelligence Business (CREBACO), thus far round 15 million Indians have embraced crypto and invested near 10 billion {dollars} in crypto belongings.
Earlier, in March, a research by fintech platform Stilt revealed that 94 % of Crypto Buyers are Gen Z or Millennial— in comparison with simply 6.14 % throughout all different patrons over the age of 40. “In spite of more limited access to credit and greater amounts of debt, Gen Zers and Millennials are still putting their money — and hopes — into cryptocurrency in a big way,” the corporate stated in a weblog submit.
Meanwhile, Prime Minister Narendra Modi stated Thursday whereas flagging cryptocurrency as one of many areas the place they need to work collectively to “ensure it does not end up in the wrong hands” and “spoil our youth”.
Speaking on “India’s technology evolution and revolution” throughout a digital tackle on the inaugural Sydney Dialogue, Modi referred to the digital age that “is changing everything around us” and stated it was “essential for democracies to work together” — from know-how to produce chains.
“Take cryptocurrency or bitcoin, for example. It is important that all democratic nations work together on this and ensure it does not end up in wrong hands, which can spoil our youth,” Modi stated.