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The results of a new survey suggest teens are still more persuaded that the stock market is where they should invest, yet crypto is more popular than alternatives like real estate.
Researchers have attempted to probe North American teensâ perceptions of the stock market, cryptocurrencies and other investments in the high-octane GameStop era. The results showed that cryptocurrencies edged ahead of some other asset classes such as real estate, with 25% of teens saying they would invest in crypto if given hypothetical funds as compared with 24% in real estate.Â
About 43% remain convinced that the best bet would be to invest their funds in the stock market, yet a large share â 37% â said theyâd refrain from investing altogether.
These results were drawn from a survey jointly conducted by Junior Achievement and RSM USÂ in mid-July of this year among a small sample of just over 1,000 teens aged between 13 and 17 years old. 39% of respondents who had closely followed the GameStop saga agreed with the idea that investing in the stock market is a great way to make a quick buck, with 20% judging trading stocks to be too risky overall. Nonetheless, 40% continue to believe that stocks can be advantageous as a long-term investment.Â
The surveyâs leaders have indicated that they aspire to reestablish confidence among teens that buying into the stock market is really in their best interest and to temper the negative picture they may have after having witnessed the fate of GameStopâs retail investors â as opposed to hedge funders â during the short squeeze. In the words of Jack Kosakowski, president and CEO of Junior Achievement USA:
âThese results show that the recent âmeme stockâ phenomenon could be having an adverse impact on teensâ perceptions of what it means to invest in the stock market. Given the fact that the stock market plays a major role in helping countless Americans achieve a secure retirement, itâs important that we help demystify it for the next generation.â
Junior Achievement and RSM have been trying to change teensâ impressions by promoting pro-stock market educational programs, including simulated stock market experiences and a curriculum designed to clarify the basic tenets of investing. The challenge they face is that, according to the results of their survey, a vanishing majority â 51% â of teens said they believe the stock market is ââa good thingâ for ordinary people.â
Related: Parents, itâs time for âthe talkâ: Did your kid trade crypto in 2020?
As Cointelegraph previously reported, in many parts of the world, an increasing reliance on speculative investments has become conspicuous among Millennials struggling to subsist in an era of suppressed wages, an insecure job market and forbiddingly high real-estate prices.Â
In contrast to Junior Achievementâs takeaways, Lee Han Koo, an economics professor at the University of Suwon in Korea, argued earlier this year that the difficult socio-economic environment has fueled a âdesperateâ perception among many young people that day trading represents a âonce-in-a-lifetime opportunityâ to break out of their insurmountable financial precarity.Â
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