According to a research note published on September 28 by Grayscale, the average American Gen Z investor placed their first dollar at age 19, compared to 35 for baby boomers, giving them a 46-year investment horizon until retirement. The digital asset manager argues that this long timeframe allows for tolerating the volatility of assets like bitcoin, which has lost approximately 31 % since its record of $126,080 on October 6, 2025. The thesis draws on Roger Ibbotson’s “human capital” theory, which holds that a young person’s future earnings represent the bulk of their wealth, justifying a riskier financial portfolio. Grayscale specifies that its analysis is provided for illustrative purposes only and that the firm manages bitcoin and ether ETFs on Wall Street. In France, 12 % of residents hold crypto-assets, according to a March 2024 Adan-KPMG-Ipsos study, with 18-to-34-year-olds being the most represented age group.
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