US teenagers are more likely to invest in the stock market. However, cryptocurrencies are a more popular option than other alternatives like real estate.
Junior Achievement and RSM US investigated the perspective of North American teens regarding the stock market, cryptocurrencies, and other investments. The survey, which was conducted in mid-July, polled over 1,000 teens between the ages of 13 to 17 years.
According to the results, digital currencies were preferred ahead of some other asset classes like real estate, with 25% of teenagers insisting they would invest in crypto if given the funds compared to 24% in real estate. 43% remain convinced that it would be best to invest in the stock market, while 37% said they'd refrain from investing altogether.
Among respondents who had closely followed the GameStop saga, 39% agreed with the idea of investing in the stock market, with 20% concluding that trading stocks are too risky. However, 40% believe that stocks can be advantageous as a long-term investment.
In similar news, 77% of Russian investors reportedly chose Bitcoin investments over gold and forex.
The survey’s leaders expressed the desire to reestablish confidence amongst teens, encouraging them to buy into the stock market for their own best interests, and also change the negative picture they might have towards the market.