Survey shows that millennial millionaires want to buy more crypto despite price volatility in the next year-
Survey shows that millennial millionaires want to buy more crypto despite price volatility in the next year-
While the cryptocurrency economy has a broad front, lost billions in the past two weeks-a current CNBC millionaire survey shows that millennial millionaires have a lot of crypto. In addition, millennial millionaires plan to include other digital assets in their portfolios in 2022.
83% of millennial millionaires have cryptocurrency, according to the latest CNBC millionaire survey
CNBC recently carried out a survey that shows that 83% of millennial millionaires have cryptocurrency. In the survey, investors who have assets worth $ 1 million or more were asked and cannot state their main residence. 53% of the millionaires surveyed have at least 50% of their assets in crypto assets such as Bitcoin and Ethereum. Almost a third of the participants surveyed hold at least three quarters of their investable assets in digital currencies.
The CNBC survey shows that there is a generation difference between older millionaires and younger millionaires. Only 4% of the Baby boomer generation have cryptocurrencies, while three quarters of the survey participants of Generation X have no cryptocurrencies. Millennial millionaires seem to be the pioneers when it comes to using crypto assets for investable assets.
"This is a big difference between different generations of assets," said George Walper, the President of the Spectrem Group (who carried out the survey with CNBC) when he discussed the results. The Walper and CNBC survey indicates that crypto-assets “remain the focus of their investments in the coming years” when it comes to generation Z and Millennial investors.
The President of the Spectrem Group says that Millennials seem to feel comfortable with volatility
Despite the decline in the USD value in the crypto economy, "plan millennial millionaires to add more crypto in 2022". Walper insists that there are two types of thousand-year-old crypto investors-investors who have made millions with crypto, and those who add crypto to their current investment. 45 % of the millennials stated that they had inherited funds, and millennials with $ 5 million in investable assets or more said that "heir" was an important factor.
There are also millennials that have earned their millions with crypto and have become "self-made millionaires", as the CNBC survey states. CNBC also asked Walper whether millennials would remain on the cryptom market or not if the crypto economy decreases further. "They seem to feel comfortable with volatility," Walper Castle.
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