Millennials as investors are probably more crypto-forward than others and a survey now shows that millennial millionaires in the US have most of their wealth in crypto, and they plan to add more in 2022, despite the recent price cut . According to the research, the crypto holdings of millennial millionaires stand in stark contrast to the older millionaire generations, with only 4 percent of baby boomers owning cryptocurrency, while more than three-quarters of Gen X investors do not own crypto.
The survey in question is one conducted by CNBC among millennial millionaires and what they indicated their investment plans would be in crypto over the next year. Despite the recent volatility in the market, the results show that this group is at least as optimistic as ever about space.
By definition, a millennial is someone born between 1981 and 1996. Their willingness to be more daring about non-traditional decisions and inclination towards digital options has also helped them differentiate themselves. The CNBC Millionaire Survey, a poll of Americans with $1 million (about Rs. 7.61 crore) or more in investable assets (excluding homes), showed how millennials, in particular, stood out in their optimistic support for crypto for the next year. .
From their affinity for all things digital, 83 percent of the millennium millionaires surveyed said they owned cryptocurrencies. By comparison, only 16 percent of Americans have reported ever owning or using cryptocurrencies in their lifetime. Of the 83 percent of millionaire millennials who own crypto, 53 percent have at least half of their wealth tied up in digital assets. Meanwhile, nearly a third have at least 75 percent of their assets in cryptocurrency.
It feels reasonable to assume that millennial millionaires know a thing or two about crypto, given the number of investments, and much more. Therefore, their apparent continued bullishness appears to be a very positive sign. About 48 percent of that group confirmed they plan to increase their crypto investments in 2022, while 39 percent said they will remain at their current levels. In fact, only 6 percent reported plans to reduce their crypto exposure next year.
Now it is almost impossible to predict the future of crypto, but seeing what investors with larger portfolios and a higher level of comfort in the space are doing gives an interesting perspective on possible results. Millennials are one of the most crypto-friendly groups of people in the world, and their current plans about how they will invest in 2022 is a sign that they think a good year is ahead.