Thursday, January 27

A report recorded that 83% of millennial millionaires buy Bitcoin

This is the generation that was 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 baby boomers are considered to be those who were born between 1949 and 1968, so they are between 53 and 72 years old now.

Taking this data 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.”

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

On the other hand, despite the price drops of digital assets, 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 those surveyed 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.