According to a new survey conducted and reported by a new survey conducted and reported by a new survey conducted by CNBC.
The survey polled investors with investable assets of $1 million or more to find that 83% of millennial millionaires own crypto. More than half (53%) have allocated at least 50% of their assets in crypto, while around a third have at least 75% of their investable assets in bitcoin and crypto.
While the younger generations are piling up in the asset class, older millionaires have bitcoin in a much lower proportion of their portfolios. The survey shows that only 4% of startups own crypto, and over 75% of Generation X investors haven’t allocated a dime into bitcoin or crypto entirely.
“The results suggest that cryptocurrencies are creating a wide generational divide in wealth creation and investment,” according to the report. “While older generations of millionaires are still skeptical about cryptocurrency and its future, crypto has become a major source of wealth creation and wealth growth for many young investors, early participants and quick profits.”
“This is a big difference between different generations of wealth,” said George Walper, president of Spectrem Group, which surveyed with CNBC.
At the time of writing, Bitcoin is changing hands around 32% below Its November all-time high of $69,000 and confident annual millionaires want to boost their positions. The survey found that 48% plan to add more bitcoin and cryptocurrencies to their portfolio in the next year, while 39% said they have no intention of buying more – just 6% plan to sell. some of their holdings in 2022.
“According to a survey by Spectrem, absolutely 45% of millennial millionaires see inheritance as a factor in their wealth. Among millennials worth $5 million or more, inheritance is the leading factor (75%) in their wealth,” according to the report.
As bitcoin has increased in value over the past year, Americans want to take advantage of the holiday season to increase their holdings. According to a recent survey from MagnifyMoney, which polled over 2,000 US adults, about 65% of respondents want bitcoin or stocks as a gift this year.
https://bitcoinmagazine.com/markets/millennial-millionaires-own-bitcoin-and-want-more Millennial Millionaire Owns Bitcoin and Wants Mor