Wealthy millennials have much of their wealth in cryptocurrencies

Crypto is a millennial trend

According to a CNBC survey of 750 respondents, nearly 50% of millennials have invested at least 1/4 of their wealth in cryptocurrencies. Even more than one in three said he had at least half of his assets in cryptocurrencies. George Walper, president of the Spectrum Group (who conducted the survey), explained why cryptocurrencies are so appealing to the younger generation:

“Younger investors jumped on this wave relatively early, when cryptocurrencies were not yet so well known. They dealt intellectually with the idea of ​​cryptocurrencies, even though it was new. “

On the other hand, most senior investors who own at least $ 1 million are worth it. They do not like digital assets, as 83% of them do not trust digital currencies and do not have any funds stored in them. In reality, only every tenth has more than 10 percent of their resources in cryptocurrencies.

“Older investors have largely said, ‘Is it legitimate?’ Older generations are still lagging behind in understanding cryptocurrencies.“

In addition to the above, almost half of the millionaire millennials have revealed that they own some NFTs and another forty percent do not rule out joining the NFTs in the future. Here, however, it should be added that most survey participants were unfamiliar with what exactly the NFT tokens were, but still described them as “the next big thing.”

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14 percent of Americans own cryptocurrencies

At the end of April, the Gemini cryptocurrency exchange conducted another survey, the results of which indicate that about 14% of US citizens have already purchased some digital assets. Two-thirds of respondents said they were “curious about cryptocurrencies” and 23 percent were not interested in virtual currency.

Bitcoin (BTC) remained the most popular cryptocurrency, as almost all respondents (95%) answered that they knew BTC. 87% of those who invested said that BTC is what they have invested in. The Americans have also shown a fairly decent knowledge of altcoins since 36% has invested part of their wealth in Ether (ETH), 22% in BTC Cash (BCH) and 16% have invested in Litecoin (LTC).

Conclusion

The findings of both surveys show that most cryptocurrency investors are young people between the ages of 25 and 44. The “average” owner of cryptocurrencies is a 38-year-old man who earns about $ 111,000 a year.