A CNBC survey says that about 83% of millennial millionaires have a substantial stake in digital assets, more than 50% of their wealth. According to the CNBC Millionaire Survey, 48% of these crypto investments would increase even further next year.
Another notable point from the platform’s survey is that about a third of these millennial millionaires hold over 75% of total wealth in crypto. In addition, when quizzed, only 6% of respondents implied that they will sell some of their holdings in the near future.
The CNBC survey also delved into finding out what attracted these young millennials to digital currencies. A majority of them cited the considerable inflation protection provided by crypto as a motivating factor. Furthermore, these millennials believe that inflation poses a huge threat to economic growth, and deemed it a permanent problem.
Another reason for the crypto gravitation is the decreased faith in the policies and abilities of the US government. However, many millennials still held out hope that things would turn around for the better.
A separate report published earlier this year revealed that just under a third of millennials held 50% of their money in BTC. With this growing trend, it is evident that crypto is more popular among the younger generation.
