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Although the cryptocurrency economy is losing money – billions of dollars have been lost in the past two weeks – a recent CNBC Millionaire Survey showed that millennial millionaires own a large amount of cryptocurrency. In addition, millennial millionaires plan to add more digital assets to their portfolios in 2022.
According to the recent CNBC Millionaire Survey, 83% of millennial millionaires own cryptocurrency
A recent CNBC survey showed that 83% of millennial millionaires own cryptocurrency. The survey surveyed investors with assets valued at US$1 million or more, excluding their main residences. 53% of surveyed millionaires have at least 50% of their wealth from crypto assets such as Bitcoin and Ethereum. Nearly one-third of respondents have at least three-quarters of their investable assets in digital currencies.
The CNBC survey emphasized that there is a generation gap between older millionaires and young millionaires. Only 4% of baby boomers hold cryptocurrency, and three-quarters of Gen X survey participants do not own any cryptocurrency. Millennial millionaires seem to be the forerunners when it comes to using encrypted assets to obtain investable wealth.
“This is a huge difference between the wealth of different generations,” said the president of Spectrem Group (in a joint survey with CNBC) when discussing the results. The Walper and CNBC surveys show that for Gen Z and millennial investors, crypto assets will “remain at the core of their investments in the next few years”.
Spectrem Group President said millennials “seem to be satisfied with volatility”
Despite the decline in the dollar value of the crypto economy, “millennial millionaires plan to add more crypto in 2022.” Volper insists that there are two types of millennial cryptocurrency investors-from cryptocurrency Investors who earn millions of dollars in, and those who add cryptocurrencies to their current investable wealth. 45% of millennials say they have inherited funds, and millennials with investable wealth of US$5 million or more say “inheritance” is an important factor.
In addition, CNBC’s survey pointed out that there are some millennials who have made millions of dollars through cryptocurrency and become “self-made millionaires.” CNBC also asked Volper whether millennials will stay in the crypto market if the crypto economy continues to decline. “They seem to be satisfied with the volatility,” Volper concluded.
What do you think of the survey of millennial millionaires planning to add more cryptocurrencies in 2022? Please tell us your thoughts on this topic in the comments section below.
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