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British Millennials With £25,000+ in Investable Assets Are Investing in Bitcoin

British Millennials With £25,000+ in Investable Assets Are Investing in Bitcoin

A recent survey in the UK reveals who have over £25,000+ in investable assets are now investing in cryptocurrencies. Born in the early 80s to mid-90s, this population has been working extensively with fintech applications like Revolut and Robinhood to invest more in digital currencies.

Millennials prefer alternative assets

Millennials are more interested in managing their finances more actively using the latest technological tools available to them. They are also more interested in using alternative assets like Bitcoin. These assets are 3x more common than regular long-term investments among the millennials when compared with older generations.

British Millennials With £25,000+ in Investable Assets Are Investing in Bitcoin

The survey findings are in tandem with recent research published by the Financial Conduct Authority (FCA). It also stated that there is a growing interest in cryptocurrency assets in the country. The FCA noted that 2.6 million consumers in the UK have bought digital assets. This number was 1.1 million more than last year.

Higher returns make Bitcoin attractive

The latest survey was done amongst affluent millennials in the UK who have at least £25,000+ in investable assets. About 20% of the demographic said that they have made crypto investments. The age group that was questioned was born between 1981 and 1996 and has a higher amount of investable assets compared to the UK national. They make up about 3% of UK citizens who have a high amount of assets. Only 20% of the British millennials have this kind of money to allocate towards short- and long-term investments.

Younger people have started investing in Bitcoin because of the consistently higher returns that it offers when compared to traditional stocks. In the past decade, the FTSE 100 has only produced 7.38% returns. However, the return on cryptocurrencies has been between 8.73% to 19.07%. Bitcoin investors have remained profitable for 89% of the days while they have lost money on just 11% of the days.

Another recent study suggests that allocating 40% of assets to bonds, 60% to stocks when Bitcoin occupies around 5% share in assets, could help in doubling returns in just four years.

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      Sherlock Gomes loves to write and express his views on anything related to Crypto. He has been covering Crypto for more than two years now. He likes Bitcoin and Cardano. He also writes on Finance, Healthcare, and Technology among other stuff. He can be reached by e-mail on sherlockg@insidebitcoins.com