1 year ago
64 The crypto market is experiencing a prolonged dip, which has affected the prices of cryptocurrencies drastically. But this has not prevented investors in the US from participating vigorously in the market. While interest in crypto-asset cuts across all ages, a recent survey has shown that the younger generation is more actively involved.
The last survey conducted by Alto showed that nearly 39% of surveyed millennials hold crypto assets. This number is higher than the millennials that invested in mutual funds.
Millennials Maintain Their Stake In Crypto Despite Market Slump
Last November, the cryptocurrency market reached a global capitalization of $3 trillion, However, 2022 has not been favorable for market participants, as several crypto assets have lost more than 70% of the gains recorded in November. The adoption of digital currencies has also kept growing during the last few months despite the market slump.
According to Alto’s report, several millennials are now looking at different alternative investment options to diversify their portfolio. Bitcoin and other altcoins have provided an acceptable alternative payment option.
Cryptocurrencies are one of the most popular alternative investment options for several traders and investors over the past 10 years.
“When it comes to interest in digital assets, the vast majority of millennials either own crypto or are considering it,” the report noted. The cryptocurrency holders will more likely include it in their retirement portfolios. The report also stated that more than 70% of the millennials who are also holders of IRA and crypto assets, hold crypto in an IRA.
Many Of The Millennials Are Diversifying Into Real Estate
In 2021, the global crypto users surged by 178%, reaching more than 300 million. Additionally, both retail and institutional adoption of digital assets has increased during the past 12 months. Although the massive surge in adoption rate has declined in the past few weeks, young investors now want to diversify their portfolios into assets like real estate. While the millennials are getting more interested in crypto assets, the survey showed that a greater number of them are showing more interest in real estate. Other areas where they have diversified their portfolio include angel investing, venture capital, and Innovation funds.
