In the wake of the “cryptocurrency bloodbath,” many Gen Z and Millennial investors are still crypto believers. 

In the wake of the “cryptocurrency bloodbath,” many Gen Z and Millennial investors are still crypto believers. Last week, crypto token Luna and its sister coin TerraUSD(UST) “plunged the broader crypto market into freefall” causing a crash that led to a $400 billion loss in “crypto market capitalization in a matter of days” and left many investors reeling and filing for bankruptcy. According to Charles Schwab, Gen Z and Millennials make up two-thirds of new investors, and these generations are fuelling the popularity of newer, less stable investments like crypto, and NFTs in their race to get rich faster. Social media has accelerated their interest, making investment success seem more attainable and information about digital investment more accessible. But while getting rich quick may be a draw, YPulse’s Buying Into Crypto and NFTs Trend Report found that many Gen Z and Millennials who have invested in crypto did so to build wealth for the future, and many proponents still believe that crypto is their path to success despite market dips and dives. (Time)