What to Know About Crypto Adoption by Millennials? Could it Increase in 2022?

7:45 am, Fri, 17 December 21

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Crypto assets have piqued the interest of a large audience, not just in a country or two, but all around the world. The significance and utility of digital currencies are increasing, which is leading a vast audience to divert their attention towards crypto.

Digital assets are being recognized as a suitable investment with a better store of value than other assets. However, there is a generational gap between the people who support crypto and those who don’t.

According to a survey, wealthy millennials are more likely to invest in crypto and use decentralized technologies. As per the survey, a majority of millionaire millennials have invested in digital currencies and plan to increase their holdings in the coming year.

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Details to Know About the Survey

The details mentioned above are from the CNBC Millionaire Survey. This survey not only focused on how many people are interested in crypto but also evaluated the sentiments of people towards different areas of the economy.

As per the survey, one of the things millennials are most worried about is inflation, which has caused substantial damage to the economy. The second factor that is people’s concern is the US Government Dysfunction.

Inflation is one of the top reasons why a large number of people have started moving towards crypto as it offers a more independent financial system. 45% of millennials are of the opinion that inflation is permanent while 59% believe the FED will solve this issue soon. But that’s not all.

The millennials who participated in the survey are millionaires and perceive the damages brought on by inflation in a different way. While inflation is causing the prices to rise, millionaire millennials are more concerned about the increasing interest rates and how they will impact their investments.

Here are some of the results of the CNBC survey.

  • 83% of wealthy millionaires own cryptocurrencies
  • 48% of millennials intend in buying more in 2022
  • 6% would consider reducing their holdings
  • 53% of millennials hold around 50% of their wealth in digital assets
  • A third of millennials revealed that more than 75% of their wealth is invested in digital currencies

The survey also revealed that as people are getting older they are putting less and less trust in digital assets.

Millennial investors are more interested in crypto assets, regardless of the price fluctuations that occur now and then. Whereas, the investment or interest of older generations in BTC and other digital currencies is minimal.

What Should Crypto Investors Know?

There is a variety of cryptocurrencies and crypto exchanges in the crypto market. However, to buy any kind of digital currency it is important that people choose the best place to buy crypto.

The prices of the major crypto assets, such as Bitcoin and Ethereum, have been moving up and down. To be specific:

  • Bitcoin is trading at $46,933 (at the time of writing)
  • Ethereum is trading at $3,889 (at the time of writing)

Even though the prices of digital assets are known to be volatile, their significance and utility seem to be increasing more and more.

Therefore, if you want to invest in digital assets such as Bitcoin and Ethereum, you can click on SwissBorg or Kraken (U.S. citizens).

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