I caught up last week with Public.com, an app aimed at beginner investors that offers stocks, ETFs, and other assets along with social media features. Like its competitor Robinhood, Public was a beneficiary of the 2021 meme stock frenzy and offers a window into how younger people (for the most part) like to invest.
I asked the company about the current popularity of crypto, and learned Bitcoin has dropped from the second-most-popular asset on Public to the fourth, while Ethereum has slid all the way from third to 18th. This isn't a huge surprise given the ongoing bear market. But what came as a surprise to me was what Public customers are buying instead: Treasury bills.
