59 percent of Gen Z think that cryptocurrency will make them millionaires: Survey

Fuelled by the hype and advertisements, young investors are flocking to cryptocurrency exchanges with dreams of earning quick profits, and Gen Z investors specifically think cryptocurrency can make them millionaires, a new report by data analytics firm Engine Insights showed.

At least 59 percent two thirds of Gen Z respondents (born between 1997 and 2012) believe that they could become well off by investing into digital currencies. And 46 percent of Millennials (born between 1981 and 1996) believe they could become millionaires from cryptocurrency investments.

The survey was conducted among 1,027 adults who are 18 years of age and older. A total of 31 percent of US Adults believe they can become millionaires off crypto investments, the survey added.