Devenez Insider

"I do what I want with my money": these young people who are betting it all on cryptos

Wednesday, February 1, 2023

They are under 25, interested in the markets, but use almost exclusively cryptocurrencies and decentralised finance to invest and manage their savings. Why? That's what we wanted to understand 🔍

Damien is 22 years old, he loves football, his studies, parties, social networks, good music, in short, he has everything of the young person of 2023. Or almost.

Because Damien has the distinction of owning only cryptocurrencies. "98% of my assets are in cryptos," he tells us. In other words, only 2% of his money is available in euros.

This student from Lyon first became interested in cryptos in 2017, during the previous Bull Market. At the time, bitcoin had risen in less than a year from $1,000 to almost $20,000, and he took the opportunity to get into the market with "a few hundred euros".

Like many investors, he lost a large part of his stake between 2018 and 2019, but he enjoyed runaway success with the rise of the markets during the Covid crisis. Today, at just 22, he owns around €300,000 in cryptos 😅

To give you an idea, that's roughly double the average French household's net worth (€150,000)!

We agree, Damien is obviously not a representative case of young Europeans of his generation; he's a bit of a UFO 👾

Except that "UFOs" like Damien are being seen more and more all over France - and Europe.

Why such a phenomenon?

How do these young people invest?

And above all, what impact does this have on traditional finance?

That's what we at The Big Whale set out to understand 🐳

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Cette analyse n'est pas un conseil en investissement. Elle a été rédigée sans prendre en compte votre situation personnelle et notamment votre situation financière, votre profil de risque et vos objectifs d’investissement.

Avant d’investir dans un produit, l’investisseur doit comprendre entièrement les risques et consulter ses propres conseillers juridiques, fiscaux, financiers et comptables.

Cet article est réservé aux abonnés insiders.

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