Every second millionaire millionaire invests in cryptocurrencies

The first million can be stolen, inherited or earned on ... cryptocurrencies. At least that's what the study shows CNBC Millionaire Survey, which shows that 47% of all millennial millionaires have at least 25% of their total assets in cryptocurrencies.

The CNBC study shows unequivocal results, but they should come as no surprise. For years, the youngest ones have been most willing to invest in modern technologies. The study, however, carefully checked the assets of not only the youngest people, but also the richest ones. Older millionaires were also asked about their preferences. 

It shows that practically all the youngest rich people invest in cryptocurrencies. 750 people decided to complete the detailed questionnaires. As many as 47% of them admitted that they have over 25% of their assets in cryptocurrencies. Moreover, almost 35% admit that over half of their wealth is invested in digital assets based on blockchain technology.

Younger ones are more willing to invest in cryptocurrencies

The study clearly shows that age is important in the selection of investment instruments. The older ones bought cryptocurrencies less often and for smaller amounts - even if their wealth before the purchase was much more substantial than the younger ones. The younger ones invested more aggressively and earlier - thanks to which they significantly increased their resources, taking advantage of the growing trend on the cryptocurrency market, which was very dynamic especially at the turn of the year. 

On the basis of these data, it can also be concluded that at least some of the investing young millionaires became wealthy people thanks to cryptocurrencies. Not all of them earned their money in a different way and only then invested in digital assets. Most of them owe their present material status to them.

Older millionaires avoid cryptocurrencies

However, when we analyze all the millionaires who took part in the survey, it turns out that only 17% of the entire group have any tokens. However, even those who do have a small portion of their property in cryptocurrencies. Only 10% of respondents have more than 10% of assets in cryptocurrencies.

- Younger investors jumped early into the crypto world when it was not as well known yet. It was they who were more intellectually involved in this idea, even though it was new and unknown to many. Older investors and the baby boom generation were largely saying, "Is this legal?" and stood by for a long time while the market grew by leaps and bounds - comments George Walper, CEO of the Spectrum Group, which conducted the online Millionaire Survey from April to May 2021.

NFT tokens? And there is such a thing?

As reported Crypto Genius official site, sthe price list repeats itself once again. It is young people who are starting to make money on new digital assets, such as non-exchangeable tokens (NFT), while older and often much wealthier investors do not even have a greater idea of ​​what they are or how they work. 

Even among young people, however, there is a reserve with which they approach the most fashionable NFT sector at present. 30% of respondents believe that NFT is just a fad, but most believe that they will find a permanent place in the financial world of blockchain. Despite this, about half of the respondents already have NFT tokens, and even 40% do not rule out that they will buy them sooner or later. Elderly? As you can guess, they don't know what we're talking about. 98% of middle-aged millionaires not only do not have NFTs, but also show no interest in these projects.