Millennials as investors are likely to be more crypto-forward than others, and a recent poll found that in the United States, millennial millionaires hold the majority of their money in crypto, and they want to add more in 2022, despite the recent price drop. According to the report, millennial millionaires’ crypto holdings vary sharply with those of prior wealthy generations, with only 4% of baby boomers having virtual currency and more than three-quarters of Gen X shareholders not possessing any.
The study in issue was done by CNBC and asked millennial wealthy about their crypto investment plans for the following year. Despite recent market turbulence, the data indicate that at minimum one group remains positive in the area.
A generational is someone who was born between 1981 and 1996. Their willingness to take risks with unconventional judgments and a preference for digital solutions has also helped them stand out. The CNBC Millionaire Survey, which polled Americans with $1 million (approximately Rs. 7.61 crores) or more in investable assets (excluding homes), revealed that millennials in especially were positive on crypto for the coming year.
83 percent of millennial millionaires polled said they held some cryptocurrency, demonstrating their enthusiasm for all things digital. In comparison, just 16% of Americans claim to have owned or used cryptocurrencies at any point in their life. In the meanwhile, about a third of the population has at least 75% of their wealth in cryptocurrencies.
Given how many millennial billionaires are highly involved in cryptocurrency, it seems reasonable to believe that they know a little something about it. As a result, their apparent ongoing bullishness appears to be a highly optimistic indicator. Approximately 48% of that group said that they want to expand their crypto investments in 2022, while 39% stated that they will remain at present levels. In fact, just 6% said they want to reduce their crypto exposure in the coming year.
It is practically difficult to forecast the future of cryptocurrency, but looking at what investors with larger portfolios and a higher degree of familiarity in the industry are doing provides an intriguing perspective on possible outcomes.
Millennials are one of the most crypto-friendly generations, and their present intentions for how they will invest in 2022 indicate that they feel a good year is on the way.