Millennials Prefer Crypto Over Investment Funds
Millennials Crypto
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Millennials Prefer Crypto Over Investment Funds
A new survey conducted among young adults aged 25 to 40 in the US by French investment firm Alto reveals that more millennials are investing in crypto than in mutual funds.According to Alto’s report, titled “How Millennials See Their Financial Future”, nearly 40 percent of the survey’s millennial respondents have invested in cryptocurrencies.
Incidentally, the same percentage of Australian millennials indicated their preference for digital assets over real estate in a similar survey conducted by international crypto exchange Kraken almost a year ago.Another survey conducted by Australian online investment broker Pearler in May 2021 indicated that “a significant number” of Aussie millennials intended to retire at the age of 50 using their investments in exchange-traded funds (ETFs) and cryptocurrencies.
Participants in the Alto survey, who currently own digital assets, noted that they may be adding more cryptocurrencies to their retirement portfolios.This cohort amounted to 70 percent of millennials surveyed.74 percent of millennials thought that pouring money into the stock market should be considered gambling, whereas 70 percent were of the opinion that such actions were way too dangerous; and76 percent believed they could essentially be left without any savings if the bears continued to reign supreme on the crypto market.
A study conducted by Australia's Common wealth Bank, showed that millennials are turning to crypto rather than investing in traditional asset classes. The study found that a quarter of millennials do not plan to invest in anything other than cryptocurrencies until at least 2020, according to a report.