A report titled “How millennials see their financial future” prepared in the United States showed that 40% of millennials are already crypto investors.
A report by investment firm Alto conducted an extensive survey of American adults to find out their preferences for investing. The results are that 40% of millennials with an investment owner of cryptocurrencies showed that.
Generation Y is used to express those between the ages of 18 and 38, that is, those born between 1980 and 2000. Millennials make up approximately 35% of the US population.
According to the data presented by the report, “the percentage of cryptocurrency investors is higher than the percentage of millennials who own traditional mutual funds.” Moreover, this number to stocks almost equal to millennials.
However, Alto Founder and CEO Eric Satz said current circumstances are making it harder for millennials to consider investing. He conveyed this thought in the following terms:
“In a world of conspicuous consumption, rising living costs and rising student loan debt, millennials find it difficult to invest for the future. Because they find it difficult to meet today.”
Millennials have a number of distinct concerns when it comes to both stocks and crypto investments. At the beginning of these concerns are the lack of confidence in the markets and the belief that it is necessary to be a professional investor in order to be successful.
Other highlights of the report are:
- 76% of millennials market crash He is worried that his investments may be destroyed as a result of (Market Crash).
- 74% of millennials exchange He sees his investment as a gamble.
- 71% of millennials believe a diversified portfolio will be more successful.
Meanwhile, survey respondents who currently own crypto also plan to add cryptocurrencies to their retirement portfolios. The report also highlighted that 70% of millennials who own crypto and have an individual retirement account (IRA) keep their digital assets in a private retirement account.
A survey conducted in early June showed that high-net-worth individuals are also embracing crypto. The results in the “World Wealth Report” revealed that 71% of wealthy respondents invested in digital assets. Invested assets include crypto, non-tradable tokens (NFTs), and exchange-traded funds (ETFs).
Another report by Blockware Intelligence in June stated that Bitcoin adoption will have a strong momentum, just like disruptive technologies in the past (smartphones, internet and social media).