Financial nihilism is driving some Gen Z members to invest in cryptocurrency, according to Joe McCann, founder and CEO of Asymmetric, a crypto hedge fund that was among the first institutional investors in meme coins. McCann explained that young people burdened with high levels of student debt are less likely to invest in traditional retirement plans like 401(k)s, partly because they’re more likely to live with their parents compared to previous generations. Instead, they might choose to invest a few hundred dollars in meme coins, as they feel they lack other viable financial options. This trend highlights a growing sense of financial desperation among Gen Z, who are reevaluating traditional investment strategies in favor of riskier cryptocurrency ventures.
