Crypto more popular among millennials than mutual funds, survey shows

Share This Post

The report titled “How Millennials See Their Financial Future” showed that 40% of millennial survey participants have invested in crypto.

A report published by investing firm Alto surveyed adults based in the United States to find out their preferences in investing. The results showed that more millennials from ages 25 to 40 are investing in crypto compared to those of the same age who are investing in mutual funds. 

The survey shows that 40% of millennial participants have invested in cryptocurrencies. According to the report, this is “greater than the percentage of millennials who own mutual funds.” Moreover, the number is almost equal to millennials who own stocks.

The report, dubbed “How Millennials See Their Financial Future,” also noted that most millennials either already own crypto or are considering buying. However, Alto Founder and CEO Eric Satz said that current conditions make it hard for millennials to consider investing. He explained that:

“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.”

Meanwhile, survey participants who are currently holding crypto mentioned that they are likely to add crypto to their retirement portfolio. The report highlighted that 70% of millennials who own crypto and have an individual retirement account (IRA) hold their digital assets in an IRA.

Related: 75% of retailers eyeing crypto payments within 24 months: Deloitte

Earlier in June, a survey also showed that high net worth individuals are also embracing crypto. In the “World Wealth Report,” results showed that 71% of wealthy participants have invested into digital assets. The assets invested in include crypto, nonfungible tokens (NFTs) and exchange-traded funds (ETFs).

In the same month, a report by research firm Blockware Intelligence showed that Bitcoin (BTC) adoption may surpass the adoption rate of technological disruptions such as smartphones, the internet and social media.

Read Entire Article
spot_img

Related Posts

PlanB’s Bitcoin Forecast: A Journey To $5 Million Per BTC In The Next Decade

PlanB, a popular name within the Bitcoin community, thanks to his Stock-to-Flow (S2F) model, has shared the latest discourse on X, igniting a flurry of excitement and speculation This discourse

Binance Investigates 300M BOME Token Pre-Listing Purchase In Insider Trading Scandal

Crypto exchange Binance has investigated allegations of insider trading concerning the listing of Solana meme coin Book Of Meme (BOME)  Binance Investigates Insider Trading Claims On March 14th,

Bitcoin Price At Risk of More Downsides Before Fresh Increase To $70K

Bitcoin price struggled to recover above the $68,800 resistance BTC is now moving lower and there is a risk of more downsides below the $65,000 support Bitcoin price is struggling to start a fresh

Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

Binance CEO Richard Teng now expects the price of bitcoin to surpass his earlier estimate of $80,000 this year The executive anticipates continued significant inflows into US spot bitcoin

Ether.fi $210M Airdrop Sparks Market Turbulence, ETHFI Value Drops By 35%

ETHFI, the governance token of the decentralized liquid staking protocol Etherfi, debuted for $413 following its distribution through its airdrop on March 18  However, since the $210 million

Bitcoin’s Price Trajectory: Analyst Spells Out Three Mega Bullish Outcomes

Renowned crypto analyst Willy Woo has recently delved into the future of Bitcoin, providing an analysis that explores the asset’s investment viability against traditional assets like gold and
- Advertisement -spot_img