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The overwhelming majority of millennial millionaires surveyed have crypto savings. At the same time, for many of them, more than half of their fortune falls precisely on the share of digital assets.
The preferences for using cryptoassets as an investment option or a store of value can still be traced to generational gaps. Traditionally, it is millennials, and especially millionaire investors, who are most commonly seen in the use of decentralized technologies.
According to a recent study by the CNBC Millionaire Survey, the overwhelming majority of millennial millionaires have invested in digital assets and are planning to increase them in the near future, cryptopotato reports.
The analysis assessed the sentiments of market participants in different sectors of the economy. Judging by the data obtained, the main problem for millennials is precisely inflation, which they see as a threat to the economic recovery. The next place among the potential risks, according to respondents, is the dysfunction of the American government. These items scored 23% on the aggregate number of votes.
According to the survey, 83% of millennial millionaires have digital assets, with 48% planning to acquire more in the coming 2022. Only 6% believe they will reduce their crypto savings next year.
In addition, the results show that 53% of millennial millionaire respondents have more than 50% of their savings in cryptocurrencies. At the same time, a third of millennials have 75% and more investments in digital assets.
When thinking about inflation, the overwhelming majority of millennials believe that it will be a permanent phenomenon, while 45% are seriously concerned about this issue. Moreover, most of them are still positive about the future of the economy, since 59% of respondents are convinced that the Fed will be able to cope with inflation.
It should be understood that in the case of millionaires, the threat of inflation looks somewhat different than for the bulk of the population. For example, CNBC Wealth editor Robert Frank believes that while the majority of the population is worried about the rise in prices, millionaires are worried about the increase in interest rates and their subsequent impact on investment.
Over time, millennials’ interest in cryptoassets is growing. Back in June, it was said that only 30% of respondents have 50% of assets in crypto-savings. The rise to 53% suggests that, regardless of the asset rate, interest in digital currencies has grown.
As the data shows, the older the generation, the less trust they have in cryptoassets. So, it is known that among xennials (about 40 years old) only 9.2% of respondents allocated funds for cryptoassets. If we compare that among representatives of generation X such investors – about 6.3%. The same indicators are also minimal among baby boomers and among older generations. We wrote about this poll in more detail earlier.
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