A recent report by Coinbase sheds light on the disillusionment of younger generations, namely Gen Z and Millennials, with the traditional American dream and financial system. These young Americans are increasingly open to unconventional paths to financial independence, such as cryptocurrency, as they find the American dream less attainable due to factors like high housing costs, inflation, and an outdated financial system. Instead of following conventional routes, they are actively creating new models of work, ownership, and finance that are more flexible and do not rely on legacy intermediaries.The report highlights that younger generations are actively exploring fresh economic prospects and laying the foundation for a modernized system and a revitalized version of the American dream. They see technologies like cryptocurrency as a means to modernize the system and are more inclined than older generations to view crypto and blockchain as offering economic opportunities beyond traditional finance. A significant percentage of young people already own cryptocurrency and express interest in it as a global currency. They also anticipate cryptocurrency as the future of finance.Interestingly, young people are not just investing in crypto; they are studying it in school, recognizing its job potential. They are also politically engaged and want to support forward-thinking candidates in the 2024 elections. With Millennials and Gen Z comprising around 40% of the voting-age population, they are set to become the majority of voting-age Americans by 2028, according to Brookings Research. The report reveals that a majority of young people are willing to support candidates who are favorable to crypto in the upcoming elections. Furthermore, they believe that politicians and policymakers should endorse technologies like cryptocurrency and blockchain for the benefit of future generations.In conclusion, the Coinbase report highlights the disillusionment of younger generations with the traditional American dream and financial system. These young Americans are embracing cryptocurrency as a means to achieve financial independence and are actively shaping a modernized system that is not reliant on legacy intermediaries. Their interest in crypto extends beyond ownership, as they study it in school and engage politically to support candidates who are favorable to this technology. With their growing influence, the future of finance may indeed be shaped by the preferences and actions of these younger generations.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Adelle Nazarian |
| Companies | Brookings Research, Coinbase |
| Currencies | None |
| Securities | None |
