What drives generation Z's appetite for crypto investment? The role of financial literacy, gender, and channels of influence

Enareta Kurtbegu (), Caroline Marie-Jeanne () and Bruno Séjourné ()
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Enareta Kurtbegu: Faculté de Droit, Economie et Gestion de l’université d’Angers., CONFLUENCES - SFR UA 4201 Confluences - UA - Université d'Angers, GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement
Caroline Marie-Jeanne: IAE Angers - Institut d'Administration des Entreprises (IAE) - Angers - UA - Université d'Angers, CONFLUENCES - SFR UA 4201 Confluences - UA - Université d'Angers, GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement
Bruno Séjourné: Faculté de Droit, Economie et Gestion de l’université d’Angers., CONFLUENCES - SFR UA 4201 Confluences - UA - Université d'Angers, GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement

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Abstract: This study provides a large-scale empirical analysis of cryptoasset knowledge and investment behavior among French Generation Z, based on a sample of 1,050 individuals. Using a multidimensional framework, it examines how financial literacy, gender, and sources of influence shape crypto knowledge and ownership. Econometric results show that financial literacy and gender significantly affect both outcomes. Social media, friends, and financial websites encourage investment, whereas schools, financial advisors, and traditional media discourage it. Family background and environmental concerns also influence attitudes. An overconfidence bias, particularly among men, highlights the need for early financial education to promote more informed and gender-equitable investment.

Keywords: financial literacy; channels of influence; gender; cryptoasset; canaux d'influence; littératie financière; genre; cryptoactifs (search for similar items in EconPapers)
Date: 2026-09
Note: View the original document on HAL open archive server: https://hal.science/hal-05776124v1
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