Majority Of Generation Z Does Not Like Digital Currencies

As per the recent study conducted by a leading website, Business Insider, generation Z is apprehensive about buying cryptocurrencies.  The report was released on 5th July by the website.

Cint, the audience partner of Survey Monkey, did the survey on behalf of Business Insider depicts that young Americans within the age group of 13 to 21 has no intentions to get into digital currencies.

The study was conducted to understand the young minds, especially what they think about money, time and Internet and their perception about the world. Along with this, the intention was also to know what they think about cryptocurrency and digital asset.

These young adults were asked whether they will be buying cryptocurrencies in the upcoming six months. Above 52% of the post-millennial generations said they have no intentions to purchase digital currencies within this stipulated period, and about 17% of them has no inclination towards them. This makes a total of 70% Gen Z population, who has no desire towards cryptos and 30% of them has an interest in them.

But another report published by Moscow established computer safety company Kaspersky Lab tells that about 19% of the world populace has purchased digital currencies. The survey done by Fidelity demonstrates that 22% of the institutional investors have invested in cryptos.

Cryptocurrencies after 2017 have faced a terrible downturn and have not yet reached the mark that it had in 2017. This has impacted the mindset of the common people and is slowly losing favor. But after the announcement of Facebook’s Libra, the price of both Ethereum and Bitcoin skyrocketed.

Facebook has not yet launched its cryptocurrency Libra but has already caused a repercussion in the market. The user of Facebook and Instagram will be capable of delivering currency to each other with this digital currency. As per announced cryptocurrency of Facebook is going to be a stablecoin and will be financially more durable than other cryptocurrencies. The 2.6 million users of the platform are keenly waiting for its release to use it.