WSJ: US troops cashing in on crypto, tech stocks

U.S. servicemembers are increasingly turning to stocks and cryptocurrencies, often sharing tips from military bases, according to The Wall Street Journal.

Flight-test engineer McCulloh invests heavily in nuclear-energy companies, betting on the AI data-centre boom, and has seen some stocks double since spring. While the market has fluctuated, overall prices have surged, boosting troops’ net worths.

Military bases were central to the 2020–2021 crypto boom. IRS data show high percentages of servicemembers reporting crypto transactions—up to 19.4% at Luke Air Force Base, far above the 4.1% national average.

Meme stocks and cryptocurrencies created a culture of rapid gains and bragging. Some, like Coast Guard Petty Officer Bryson Saunders, made significant profits and leveraged social-media influence, though losses can be steep.

Bases provide fertile ground for investing: young, risk-tolerant individuals with disposable income, public pay scales, and long periods of downtime. Veterans describe how investment culture—ranging from real estate to stocks—thrived during deployments, with peer advice playing a strong role. Many servicemembers still rely on word-of-mouth tips alongside formal military financial programs.

Despite growing wealth, experts warn of potential risks. Many servicemembers concentrate holdings in a few tech or energy stocks or volatile crypto. Past crashes, such as the late-1990s tech bust, demonstrate the danger. Bonds and cash are largely avoided due to low returns, while job security and pensions make troops more willing to take risks.

Day traders like Marine Moises Gonzalez experience extreme swings, gaining and losing tens of thousands in a single day. Even so, some servicemembers achieve substantial net worth through index funds, stocks, and crypto, signalling a generational shift toward high-risk, high-reward investing.

By Aghakazim Guliyev