Gen Z Americans Hate Crypto But Libra Aims To Change That

Gen Z Americans were asked whether they will ever get into crypto. Most of them answered no according to the survey results published by Business Insider. In the altcoin news below, we read more about the report.

The company that conducted the investigation is named Cint which is a company specializing in the analysis and exchange of data. The study wanted to find out how Generation Z especially in America, thinks about crypto including whether they believe it is time to invest their money into a crypto asset. The surveyed group of Gen Z Americans included all teens without categorizing them so it is correct to assume that this is the post-millennial generation including everyone born between 1995 and 2012.

The study shows that about 53 percent of those under the age of 25 don’t want to use or invest in cryptocurrencies.
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18 percent of the polled think it is highly unlikely to invest in crypto in the following six to eight months. The Bullish behavior of Bitcoin in2 019 has increased its popularity but this still does not stimulate Gen Z’s interest in using crypto or blockchain technology. However, Facebook’s Libra could change all this. Facebook aims to make Libra a globally accepted crypto allowing money to be sent between platforms freely.

The important thing to know is that Facebook has many sponsors upon which it relies. According to the latest cryptocurrency news, as reported, more than a quarter of the world’s population uses Facebook at least once a month so this means that there are 1.5 billion users checking their accounts daily. Facebook could create a crypto wallet in the personal account for the users so it will make money transfers much easier so this is the key thing that is changing the perspective of the young adults.

The use of cryptocurrencies and blockchain technology will stop being a curiosity and will become a necessity so the technology is aiming to replace the traditional means of money transfers which is when the entire generation will have to accept the reality. Twitter user Chris Hughes stated:

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‘’ If #Libra is successful, the problem will be bigger than more power for Facebook. We’ll have to answer whether we want a global currency managed by (mostly) for-profit, private companies or public ones.’’