Thirty-eight percent of men ages 18 to 29 say they have invested in, traded, or used cryptocurrency. That’s more than twice the share of women in the same age group, as Diego Nunez and I note in a new research brief, “Young men and cryptocurrency: What the evidence shows.”
In this week’s episode, Diego and I speak with Molly White, a technology critic and the writer behind the widely read Citation Needed newsletter. We discuss:
Why crypto disproportionately attracts young men
How soaring prices, FOMO, and “next big thing” marketing fueled the 2021 crypto boom
The gap between crypto’s promise of decentralization and a reality increasingly dominated by large platforms, Wall Street, and the government
The tension between claims of “predatory inclusion” by crypto firms and demographic data about the average crypto investor
How economic uncertainty and “financial nihilism” can push people toward crypto, day trading, sports betting, and other high-risk attempts to get ahead
A larger theme weaves throughout the conversation. In the midst of inflation, uncertainty about the labor market, and the value of a college degree, young men may be increasingly drawn to gambling as a high-risk shortcut to economic independence.
You can listen to the audio above or watch the video below. As always, we appreciate your feedback — in the comments or via a direct message. Do you think crypto is meaningfully different from gambling?
