Over 80% of the young millionaires own bitcoin and cryptocurrency, and 53% have at least half their wealth in such assets.
The vast majority of millennial millionaires own bitcoin and are planning to increase their holdings next year, according to a new survey conducted and reported by CNBC.
The survey polled investors with $1 million or more in investable assets to uncover that 83% of millennial millionaires own cryptocurrencies. More than half (53%) have allocated at least 50% of their wealth in cryptocurrency, while about a third have at least 75% of their investable assets in bitcoin and cryptocurrency.
While younger generations are piling up in the asset class, older millionaires have bitcoin in a much lower percentage of their portfolios. The survey found that just 4% of baby boomers own cryptocurrency, and over 75% of Gen X investors haven’t allocated a single cent into bitcoin or cryptocurrency altogether.
“The results suggest that crypto is creating a vast generational schism in investing and wealth creation,” per the report. “While older generations of millionaires are still largely skeptical of crypto and its future,…
