70% of people ages under 21 are not likely to buy cryptocurrency anytime soon

A recent survey carried out by Business Insider suggests that crypto adoption may not advance as much as many have predicted in the upcoming years. The majoriy of Generation Z apparently has no plans to buy crypto.

In January, on behalf of Business Insider, the Survey Monkey Audience partner Cint surveyed 1,884 Americans ages 13 to 21 to learn how Generation Z views the world, including how it thinks about time and money on the internet and in the physical world.

Young adults and teens were asked to rate how likely they were to purchase cryptocurrency in the next six months. More than 52% said they were not at all likely to purchase cryptocurrency during the specified time period and another seventeen percent said they were not so likely.

It might be expected that older demographics would be wary of Bitcoin and crypto as investments, due to their limited technical savvy and preference for traditional assets. However, it is likely to surprise many that the newest generation of teenagers and young adults are also reluctant to get involved with crypto.

Since the survey was conducted, however, popular cryptocurrencies like bitcoin and Ethereum have seen their value increase significantly twith Facebook’s June 18 announcement that it was creating its own cryptocurrency, Libra