A growing number of Americans are turning to speculative assets such as cryptocurrencies because they feel financially behind and see riskier investments as a faster path to financial security.
A new study from Northwestern Mutual found that 73% of respondents considering assets such as crypto, prediction markets or sports betting believe these investments can help them reach financial goals more quickly than traditional strategies.
Among younger investors the trend is even stronger, with about 80% of Gen Z respondents expressing the same view and more than 30% of Gen Z and millennials saying they are invested in or considering cryptocurrency in 2026.
Researchers linked the trend to rising “financial nihilism,” a mindset where younger investors increasingly doubt that traditional wealth-building strategies such as long-term saving or homeownership will deliver financial stability.
Despite inflation cooling to 2.4% over the 12 months through January 2026, many households still face high living costs for essentials including rent, groceries, healthcare and utilities.
A February survey found that 87% of Americans believe the country is experiencing a cost-of-living crisis, with more than half saying they struggle to pay bills such as rent on time.
Household finances remain strained as credit card balances reached $1.28 trillion at the end of 2025 while typical US rents climbed to about $1,895 per month, leaving many Americans viewing high-risk assets like crypto as potential catch-up trades.