Crypto News: Most millennial millionaires invest and own more than 50% of their wealth in crypto

According to the latest edition of the CNBC Millionaire Survey, 83% of annual millionaires own crypto and 48% want to buy more by 2022.

83% of millennial millionaires own crypto, 48% want to buy more by 2022

Accordingly, most Millennial Millionaires invest in cryptocurrencies, and a significant proportion have more than 50% of their assets in cryptocurrencies. And this shows that millennials are pioneering the use of decentralized technology, especially among multimillion-dollar investors.

The majority of Millennial Millionaires have invested in cryptocurrencies and are expected to increase their holdings in the coming months. The survey found that 83% of millennial millionaires own crypto, with 48% expecting to buy more by 2022. Only 6% want to reduce their stocks.

Source: CNBC

The results also show that 53% of annual millionaires own more than 50% of their wealth in crypto. At the same time, a third of millennials say they have 75% or more invested in crypto.

As for inflation, most Millennials believe it will be a permanent phenomenon, with 45% of Millennials expressing more concern. Most, however, are optimistic about the future of the economy, with 59% overall confident that the Fed is able to deal with inflation.

Source: CNBC

The younger generation’s interest in cryptocurrencies has grown over time. But it looks like the love for cryptocurrencies is waning. As the generations get older, trust in this asset class wanes. A survey conducted by Cryptopotato found that Xennials, or people around the age of 40, allocated 9.2% of their money. The exposure ratio of Generation X is now around 6.3%. Generation X came before millennials.

And there is little interest in investing in Bitcoin among baby boomers and earlier generations, with an average investment of 10% of the wealth of the top 10% of the population.