83% Of Millionaires Are Now Crypto Investors - Survey.

83% Of Millionaires Are Now Crypto Investors - Survey.

2021-12-18 | Daniel Smith

83% Of Millionaires Are Now Crypto Investors - Survey.

With corporate crypto investments and young billionaires making headlines, 2021 has proved to be the year of cryptocurrency proliferation. As per a current CNBC survey, the bulk of millennial millionaires have ventured a significant amount of their fortune in crypto and intend to do the same in 2022. The study interviewed investors with $1 million or more in assets, and 83 percent of the millennial millionaires asked said they had undertaken crypto investments. Moreover half of those polled - 53% - claimed they have at least 50% of their portfolio in cryptocurrency. Almost one-third of those polled had put at least three-quarters of their money into crypto assets. Whereas the survey findings may surprise some, those who've been monitoring the 2021 crypto bubble will be aware of how a generation of TikTok entrepreneurs won millions of dollars on investments in meme currencies. In regards to investing, the CNBC study also indicated a large age divide. On the one hand, youngsters are engaging up to 50% of their money in cryptocurrencies, while just 4% of the elder age has invested in digital assets, and only one-fourth of the GenX holds crypto. President of Spectrem Group, George Walper, the group which conducted the CNBC survey, the millennial generation's increased interest in the nascent cryptocurrency market may represent a challenge for wealth managers. He argues that established management must reconsider their attitude to these new investors. The poll also revealed that the younger generation is more prepared to undertake chances with cryptocurrency than investing in established markets. According to the poll, 48 percent of millennial millionaires intend to increase their cryptocurrency investments, 38 percent intend to maintain, and just 6 percent intend to minimize their crypto involvement in the upcoming year. Aside from a jump in crypto millennial millionaires in the US, Australia has experienced a 10% increase in cryptocurrency use over the last year. According to the 2021 Independent Reserve's Cryptocurrency Index (IRCI), which polled 2000 individuals, crypto investment amongst Australians has increased to 28.8 percent, up from 18.4 percent in 2020.

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