According to a research conducted by investment firm Alto, 40% of US millennials (aged 26-41) own cryptocurrencies. The survey estimates that roughly the same number of people hold different stocks.
Millennials and their affinity for crypto
The survey further revealed that more US millennials had distributed some of their wealth in crypto than they dealt with mutual funds. 70% of HODLers include digital assets in their individual retirement accounts (IRAs).
Furthermore, the majority of Americans in that age group who do not own cryptocurrencies are considering entering the ecosystem in the near future.
However, the current macroeconomic conditions make it difficult for millennials to invest in any type of property. Eric Saitz – founder and CEO of Alto – explained:
“In a world of conspicuous consumption, rising living costs, and rising student loan debt, millennials find it difficult to invest for the future as they struggle to afford the present.”
It is worth noting that real estate remains the most attractive investment option for American Millennials, as 77% said they would allocate money to properties. 67% said they would jump into an innovation fund, while 55% said angel investing was a great option.
Two years ago, American billionaire Tim Draper claimed that Millennials should invest in bitcoin if they wanted to secure their monetary future. According to him, keeping the money on the side so that people can use it during their retirement years is an old-fashioned model, whereas owning BTC may be a better strategy (assuming that it will continue to grow in the coming decades). the price will increase).
Half of Millennials Will Say ‘Yes’ to Pay in Crypto
Another recent survey estimated that 36% of millennials and 51% of Generation Z (born between 1997-2012) would prefer to receive half of their salaries in digital currencies rather than fiat.
Nigel Greene – CEO of DeVere Group (the research company) – suggested that many young people find the asset class attractive because of technological advances when they were children. Impressed by the “huge boom” in innovation throughout his lifetime, he said, he is about to understand the “huge potential of digital currencies”.
Whereas in the case of millennials, another survey determined that 47% of such millionaires had distributed at least 1/4 of their wealth in digital assets. In addition, 30% have invested half their capital in the market.
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