TL;DR Breakdown
- Crypto frenzy high among millennial, GenZ.
- Over 50 percent of people born 1997-2012 want half of their salary in cryptocurrency.
- Americans quit jobs after making huge profit in cryptocurrency.
A recent survey by the international financial consultancy firm deVere Group has confirmed the surge in crypto frenzy among young people. The survey revealed that 36 percent of millennials and 51 percent of Generation Z are willing to get half of their paychecks in cryptocurrencies other than fiat.
Nigel Green, CEO and Founder of the company said that youngsters find the asset class attractive due to the technological developments happening when they were kids. Influenced by the “enormous surge” in innovations throughout their life span, they are the ones to understand the “massive potential of digital currencies,” he said.
He added that Millennials and Generation Z would rather support an autonomous decentralized digital currency and payment network than a traditional system where monetary institutions and governments are in control.
The survey by deVere group revealed that many young people see cryptocurrencies as a financial revolution and a global technological development, especially those below 40-year-old. The survey revealed that one-third of those born between 1980 and 1996 and 51 percent of those born between 1997-2012 would like to receive half of their salaries in bitcoin and/or alternative coins.
In another survey by Bakkt, a digital asset manager, they also confirmed the surge in crypto frenzy among young people.
Bakkt survey revealed that younger Americans are self-aware and invest more significantly in the digital asset market than the older age groups. Millennials, according to the research, are the most active group to operate with digital assets. Nearly 50 percent of them responded that they had allocated at least 1/4 of their portfolios in cryptocurrencies.
Crypto frenzy: Americans quit jobs after earning huge profits in crypto
Previously, Cryptopolitan reported how scores of Americans quit their jobs over the past 12 months after making so much profit from cryptocurrencies.
A research company, Civic science, gathered that roughly four percent of US residents resigned from their jobs over the past 12 months as they have made sufficient profits from cryptocurrency investments.
Funny enough, most of those who quit their jobs are low-income earners who make less than $50,000 per annum.
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