A new generation of business leaders hold more cryptocurrencies than ever before and plan to continue doing so in the new year. Another CNBC-led review noted that most millennials have the majority of their financial investments in crypto. The study takes an overview of millennials with investable resources that are actually worth a million dollars or more, and notes that the upcoming and upcoming era of wealth is placing resources firmly in the digital space. The early recognition of crypto resources and blockchain-focused investments by millennials is still in stark contrast to the investors’ past era, as evidenced by the review.
“83% of Millennial Millionaires Own Cryptocurrency…
“Most of the millennial millionaires own most of their fortunes in cryptocurrency, and plan to add more in 2022 despite the recent price drop, according to CNBC’s Millionaire Survey.”
More than half (53%) own at least 50% of their wealth in cryptocurrencies and nearly a third of them own at least three-quarters of their wealth in Bitcoin, Ethereum and other types of cryptocurrencies, according to the survey. “
Even after the crypto market crash in December 2021, a CNBC survey indicates that crypto investment by millennials won’t slow down anytime soon.
While previous generations of millionaires remain highly skeptical about cryptocurrencies and their future, cryptocurrencies have become the primary source of wealth creation and asset growth for many young investors who entered early and saw rapid returns. “
About half (48%) plan to increase their holdings over the next 12 months, while another 39% plan to maintain their current crypto levels.
Only 6% of millennial millionaires plan to reduce their crypto investment over the next year. “
Despite the obvious position of cryptocurrency as a millionaire maker, the survey points to an entirely separate factor as the key to massive wealth. 45% of millennial millionaires owe their inheritance as a factor in their wealth, according to a Spectrem survey.
Among millennials worth $5 million or more, inheritance was the main factor (75%) in their wealth.
- Millennials are planning to invest more money in cryptocurrency this year
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