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Young Retail Investors Are Fueling the Rise of Cryptocurrency

CNBC's Jon Najarian breaks down the demographics of the crypto boom.

The cryptocurrency market continues to grow, but not among those associated with entrenched financial power. Jon Najarian, Co-Founder of Market Rebellion and a CNBC contributor, explains to Roundtable's Rob Nelson how the popularity of crypto is being fueled by younger investors—the 15 or 16 [years olds] and into the mid-30s. They are driving acceptance even more than the institutions and endowments.”

These investors are choosing digital assets over more traditional investments, he notes. “Even in the face of much bigger inflation than we've seen in decades, we've got gold being shunned. It's not that people are dumping their gold, but all those young people are not buying it” says Najarian.

The only gold that Generation Z and millennials are buying, he says, is in the form of jewelry. “If they buy it, they buy it in a ring, right. They're not buying it in a bullion. They're not buying it in coins. They're instead buying crypto. So I think a lot of what's happening in crypto right now, all the way from NFTs through all of these altcoins is being driven by younger investors” says Najarian. 

"It's certainly a game-changer.”

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