Study: 83% of Millennials Own Cryptocurrency and 48% Want to Buy More in 2022
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Answer Study: 83% of Millennials Own Cryptocurrency and 48% Want to Buy More in 2022
Cryptocurrencies continue to attract the attention of the world, especially the youth group.
Many young people view cryptocurrencies as an investment and a store of value.
Cryptocurrencies have contributed to widening the gap between generations, as millennials are at the forefront in terms of using decentralized technologies.
According to a survey conducted byCNBCThe majority of millennial millionaires have invested in cryptocurrency and expect to increase their holdings in the coming months.
Millennials love Bitcoin:
The survey measures market sentiment in various areas of the economy.
The results show that inflation is the primary concern among millennials, who see the phenomenon as a threat to the growth of the economy, and ironically the second most important risk is the weakness of the US government, with an estimated approval of both at 23% of the total vote.Read:The United States and the United Kingdom are preparing to team up to regulate cryptocurrency
The survey also revealed that 83% of millennial millionaires own cryptocurrency, while 48% expect to buy more in 2022.
Only 6% expect to reduce their holdings of cryptocurrency.
The results also showed that 53% of millennial millionaires own more than 50% of their wealth in cryptocurrency.
Meanwhile, a third of millennials say they have invested 75% or more in cryptocurrency.
As for inflation, most millennials think it will be a permanent phenomenon, with 45% of millennials showing greater anxiety.
However, most are optimistic about the future of the economy with an overall confidence of 59% in the Fed’s ability to handle inflation.
Another aspect to note is that millionaires view the risk of inflation differently than most other groups.
Robert Frank, an editor at CNBC, explains that while ordinary people fear price hikes rooted in inflation, millionaires tend to worry about rising interest rates and how it affects their investments.
Cryptocurrencies and the divergent interest in them from generations:
Over time, millennials have become increasingly interested in cryptocurrency.
And the love for cryptocurrency seems to be more apparent among millennials.Read:The UAE company, Emaar, launches a new token based on blockchain technology
As generations age, confidence in this asset class declines.
A survey revealed that Generation X, or those who are 40 years old, have devoted 9.2% of their funds to cryptocurrency.
Among the baby boomers and previous generations, the preference for bitcoin investments is almost minimal in the older age groups, according to the same study.
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