US Millennials Own More Crypto Than Mutual Funds

An Alto poll determined that 40% of those surveyed (ages 26 – 41) in the US have invested in cryptocurrencies, a larger percentage than those who own mutual funds.

According to the research, more US millennials than those who used mutual funds had invested some of their wealth in cryptocurrencies. Digital assets are present in the Individual Retirement Accounts of 70% of HODLers (IRAs).

Additionally, the vast majority of Americans in that age range who do not currently hold cryptocurrencies are thinking about joining the ecosystem soon.

However, given the current macroeconomic climate, it has become difficult for millennials to invest in any kind of asset.

“In a world of conspicuous consumption, soaring living costs, and mounting student loan debt, millennials find it difficult to invest for the future because they are struggling to afford the present.”

Eric Satz – Founder and CEO of Alto – explained

It is important to note that 77% of US millennials said they would allocate money to houses, making real estate the most alluring investment option. While 55% cited angel investing as a fantastic alternative, 67% said they would immediately invest in innovation funds.

Half of US Millennials Would say ‘Yes’ to Salaries in Crypto

Another recent poll estimated that 36% of millennials and 51% of Generation Z (those born between 1997-2012) would prefer to receive half of their paychecks in digital currencies instead of fiat.

Nigel Green – CEO of deVere Group (the company that conducted the research) – suggested that many youngsters find the asset class attractive due to the technological developments happening when those people were kids. Influenced by the “enormous surge” in innovations throughout their life span, they are the ones to understand the “massive potential of digital currencies,” he added.

While on the matter of millennials, another survey determined that 47% of such millionaires had distributed at least 1/4 of their wealth in digital assets. Moreover, 30% have invested half of their capital in the market.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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