Key Points
- Gen Z sees more potential in Bitcoin than real estate, according to a survey by Hong Kong brokerage firm Futu Securities.
- Bitcoin’s significant surge in 2024 and the convenience of crypto investments are driving this shift.
A recent survey conducted by Futu Securities, a brokerage firm based in Hong Kong, indicates that Generation Z is viewing financial security differently than previous generations.
Instead of pursuing traditional investments like real estate, this demographic is placing their bets on Bitcoin and other digital currencies.
Gen Z’s Crypto Optimism
The survey reveals that Gen Z is three times more optimistic about the potential of cryptocurrencies compared to real estate.
Data from the survey shows 23% of Gen Z participants would feel more secure owning two Bitcoin rather than having HK$1 million (approximately $128,400) as a down payment for a house.
This shift in attitude is significant, especially in a city like Hong Kong, where property has always been a symbol of wealth and stability.
Bitcoin’s performance in 2024, which saw a 125% surge and reached the $100,000 mark in December, is a key factor for this optimism.
In contrast, Hong Kong’s real estate market has not been able to yield similar returns.
As a result, 45% of Gen Z respondents believe that the convenience and security of crypto investments outweigh traditional assets like real estate.
Economic Uncertainty and Investment Trends
The survey also reveals a general sense of financial insecurity among Hong Kong residents, with the average financial security rating being 6.43 out of 10.
This has led to more than half of the respondents turning to investments to generate passive income.
Notably, high earners are investing in diverse and riskier assets, with 25% having more than five income streams, 34% investing over half their income, and 42% having invested in cryptocurrencies.
The survey also highlights a generational shift in attitudes towards wealth.
For many Gen Z individuals, property ownership is no longer the ultimate financial goal.
Instead, they are more interested in holding cryptocurrencies, with many expressing optimism about the future of virtual assets.
The Futu report also shows that diversification is a key investment strategy, with stocks and cryptocurrencies being the most popular asset classes for growth.
In 2024, U.S. stock trading volumes on Futu’s platform increased by 88%, with sectors like AI, renewable energy, and healthcare leading the growth.
Alan Tse, Futu’s managing director, notes that “digital assets are becoming an essential part of modern portfolios.”
