Millennials as investors are likely more crypto-forward than others and survey now shows Millennial millionaires in the US have most of their wealth in crypto, and they plan to add more in 2022 despite the recent drop in prices. Millennial millionaire crypto holdings contrast starkly with older millionaire generations, with just 4% of baby boomers owning cryptocurrency, while more than three-quarters of Gen X investors do not believe, according to the survey. own no crypto.
The survey in question is a CNBC survey of millennial millionaires and what they indicated their investment plans would be in crypto over the coming year. Despite recent market volatility, the results show that at least this group is more bullish than ever about the space.
A millennial, by definition, is someone born between 1981 and 1996. Their willingness to be bolder with non-traditional decisions and turn to digital options has also helped them stand out. The CNBC Millionaire Survey, a survey of Americans with $ 1 million (approx. Rs. 7.61 crore) or more in assets to invest (not counting residences), showed how millennials, in particular, stood out by their bullish support for crypto for the next year.
Showing their affinity for all things digital, 83% of Millennial Millionaires surveyed said they own crypto. In comparison, only 16% of Americans said they had ever owned or used cryptocurrency in their lifetime. Of the 83% of millionaire millennials who own cryptocurrencies, 53% have at least half of their wealth tied to digital assets. Meanwhile, nearly a third have at least 75 percent of their wealth in cryptocurrency.
It’s fair to assume that millennial millionaires know a bit about crypto given the number of investments, and a lot more. Therefore, their apparent persistence of optimism seems to be a very positive sign. About 48% of this group confirmed that they plan to increase their crypto investments in 2022, while 39% said they will maintain their current levels. In fact, only 6% have signaled their intention to reduce their exposure to crypto next year.
Now, it’s almost impossible to predict the future of crypto, but seeing what investors do with bigger portfolios and a higher level of comfort in the space gives an interesting perspective on the possible outcomes. Millennials are one of the most crypto-friendly groups of people in the world and their current plans for how they will invest in 2022 is a sign they think a good year could be in store.