Investment company Alto has published a report on the results of a survey of US adults on the topic “How millennials see their financial future.”
Analysts of the company tried to find out the preferences of investors. According to the survey results, people aged 25 to 40 prefer to invest in digital currencies more.
More than 40% of millennial participants have already invested in cryptocurrencies. That’s more than the percentage of turn-of-the-century generations who invest in mutual funds. Moreover, the percentage of millennials who own cryptocurrencies is almost equal to the percentage of those who own stocks.
The majority of Alto’s respondents either already own digital assets or are considering buying in the near future. However, according to Alto CEO Eric Satz, conditions by the summer of 2022 are preventing young people from seriously considering investing in both cryptocurrencies and securities:
“In a world of conspicuous consumption, skyrocketing costs of living, and mounting credit debt, millennials find it hard to invest in the future because they struggle to afford the present.”
Meanwhile, survey participants who currently own cryptocurrencies noted that they are likely to add digital currencies to their retirement portfolio. The authors of the study emphasize that 70% of the surveyed millennials who own digital assets and have an individual retirement account already store cryptocurrencies in it.
At the end of last year, the American broadcaster CNBC conducted a study according to which 83% of wealthy millennials own crypto assets, and 48% of them planned to increase their investment in digital currencies.