Sunday, January 16

83% of millennial millionaires own bitcoin, CNBC study reveals

Like every end of December, CNBC published the results of its annual millionaires report and this time they drew attention for something in particular. The study revealed that the majority of wealthy young millennials keep their fortune in bitcoin and other cryptocurrencies.

83% of millennial millionaires have cryptocurrencies, while generation X is only 25% and baby boomers 4%. This was confirmed by the poll made by the financial medium CNBC to people with investments of more than 1 million dollars in the United States.

The millennials They are people who were born between 1981 and 1996, that is, they are now between 25 and 40 years old. Then, it is followed by generation X that groups those born between 1969 and 1990, that is, those between 41 and 52 years old. And they are considered baby boomers to those who were born between 1949 and 1968, so they are between 53 and 72 years old now.

Taking this into account, it is remarkable to see that it is the youngest who allocate the most investments in bitcoin. CNBC mentions that “the results suggest that cryptocurrencies are creating a strong generation gap in investment and wealth creation.

“Cryptocurrencies have become the primary source of wealth creation and asset growth for many young investors who entered early and have seen rapid returns,” the report noted. It also found that 5 out of 10 millennial millionaires have more than 50% of their wealth in bitcoin and other digital currencies.

Millennial millionaires plan to invest more in bitcoin in 2022

The survey also revealed that despite the price drops of bitcoin and other cryptocurrencies, millennial millionaires have no plans to reduce their investment in these digital assets. In fact, they are looking rather the opposite because they see a long-term increase in value.

Precisely half of millennial millionaires responded that they plan to increase their investment in cryptocurrencies during 2022. As for the rest, 39% of them will keep what they already have and 6% believe that it will reduce it.

This year another study reported by CriptoNoticias also revealed the great interest of this generation in cryptocurrencies, which is not concentrated only in millionaires. This is a report from ESET that showed that 50% of millennials have been involved with bitcoin since the start of the pandemic.