A CNBC survey revealed that most millennial millionaires invest in cryptocurrencies, and a significant portion has more than 50% of their fortune in crypto.
The preference towards the use of cryptocurrencies as an investment and store of value continues to maintain a generational gap, with Millennials at the forefront in the use of decentralized technologies – especially millionaire investors. According to the latest edition of the CNBC Millionaire Survey, the majority of millennial millionaires have invested in cryptocurrencies and expect to increase their holdings in the upcoming months.
Millennials think of inflation as a major threat to the economys growth.
The CNBC survey gauges the market sentiment in various areas of the economy. The results show that inflation is the primary concern among millennials, who see the phenomenon as a threat to the growth of the economy. The second most significant risk is the US Governments dysfunction. Both factors share 23% of the total vote. The survey revealed that 83% of millennial millionaires own cryptocurrencies, with 48% expecting to buy even more in 2022. Only 6% expect to reduce their holdings. The results also showed that 53% of millennial millionaires own more than 50% of their wealth in cryptocurrencies.
The interest of millennials in cryptocurrencies has increased over time.
The interest of millennials in cryptocurrencies has significantly increased over time. Earlier, millennial investors with 50% of their money Bitcoinaccounted for a non-trivial 30% of the total number of respondents in the June issue. The rise towards 53% reveals an increase in interest regardless of prices. However, it seems that the love for cryptocurrencies is merely a millennial thing. As generations get older, confidence in this asset class declines. Those around 40-years-old allocated 9.2% of their funds. In comparison, Generation Xs exposure is approximately 6.3%.