The majority of millennial billionaires invest in cryptocurrencies, and a sizable fraction has more than half of their money in crypto.
The preference for cryptocurrencies as an investment and store of wealth remains generational, with Millennials – particularly millionaire investors – at the forefront of the adoption of decentralized technology.
According to the most recent CNBC Millionaire Survey, the majority of millennial millionaires have invested in cryptocurrencies and want to grow their holdings in the coming months.
The study assesses market mood in a variety of economic sectors. According to the findings, millennials are most concerned about inflation, which they regard as a danger to the economy’s progress. The second most serious risk is, strangely, the dysfunction of the US government. Both received 23% of the total vote.
According to the report, 83 percent of millennial millionaires possess cryptocurrencies, with 48 percent planning to acquire more in 2022. Only 6% want to cut their holdings.
The findings also revealed that 53% of millennial millionaires had more than 50% of their wealth in cryptocurrency. Simultaneously, one-third of millenials indicated they have 75 percent or more of their money invested in cryptocurrency.
In terms of inflation, the majority of millennials feel it will be a continuous occurrence, with 45 percent expressing more anxiety. However, most people remain hopeful about the economy’s future, with 59 percent believing the Fed will be able to deal with inflation.
Another point to consider is that millionaires view the threat of inflation differently than the general public. According to Robert Frank, CNBC Wealth Editor, while regular people are concerned about rising costs caused by inflation, millionaires are concerned about rising interest rates and how this impacts their assets.
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Disclaimer: This article is for informational purposes only, not investment advice. Investor should research carefully before making decision. We are not responsible for your investment decision