Crypto more popular among millennials than mutual funds, survey shows

Alto, an investment firm, published a report that surveyed Americans based in the United States about their preferences for investing. These results revealed that more millennials aged 25-40 are investing in crypto than those who invest in mutual funds.

According to the survey, 40% of participants in millennials have made investments in cryptocurrency. This is more than the 40% who have mutual funds. It is also almost the same as the number of stock-owners.

The report, titled “How Millennials View Their Financial Future”, also found that the majority of millennials either have crypto or are looking to buy it. Alto CEO Eric Satz, Alto founder and CEO, said that it is difficult for millennials today to invest in crypto. He explained:

“Millennials are facing a difficult time investing in the future, because of their high consumption and rising living costs.

Participants who currently hold crypto indicated that they would like to add it to their retirement portfolio. According to the report, 70% of millennials with crypto have an individual retirement account (IRA). They keep their digital assets in an IRA.

Similar: Deloitte: 75% of retailers are interested in crypto payments within the next 24 months

A survey conducted earlier in June also revealed that crypto is being adopted by high-net worth individuals. According to the “World Wealth Report”, 71% of high-net-worth participants have made investments in digital assets. These assets include crypto, nonfungible tokens and exchange-traded fonds (ETFs).

A report from research firm Blockware Intelligence revealed that Bitcoin adoption could surpass the rate of technological disruptions like smartphones and social media.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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