{"id":188633,"date":"2018-10-31T06:00:15","date_gmt":"2018-10-31T10:00:15","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/a-quarter-of-rich-millennials-say-they-own-cryptocurrency-another-third-interested\/188633"},"modified":"2021-07-22T16:07:20","modified_gmt":"2021-07-22T20:07:20","slug":"a-quarter-of-rich-millennials-say-they-own-cryptocurrency-another-third-interested","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/a-quarter-of-rich-millennials-say-they-own-cryptocurrency-another-third-interested","title":{"rendered":"A Quarter of Rich Millennials Say They Own Cryptocurrency, Another Third \u2018Interested\u2019"},"content":{"rendered":"
\"\"<\/div>\n

A new study has revealed that more than a quarter of \u201caffluent\u201d millennials either have or are using cryptocurrency.<\/span><\/strong><\/p>\n

\n

Now The Largest Generation in the US<\/h2>\n

Communications and marketing firm Edelman has released its Millennials With Money<\/i> report<\/a>, which found that 25 percent<\/strong>\u00a0either have cryptocurrency and\/or are using it. What\u2019s more, another 31 percent<\/strong> say they\u2019re \u201cinterested in using it.\u201d<\/span><\/p>\n

The given study was based on a survey of 1,000 affluent millennials, which is defined here as having at least $50K in investable assets or $100K in individual or joint income, with comparison groups of non-affluent millennials and affluent Gen Xers.<\/span><\/p>\n

\"Millennials<\/p>\n

Millennials, otherwise known as Gen Y, are quickly becoming the dominant generation when it comes to finances. They are already make up the largest demographic group in many developed countries.\u00a0<\/span><\/p>\n

There are no exact dates to determine who is a Millennial, however. But the general consensus is the birthdate has to fall between the early 1980\u2019s to the early 2000\u2019s. In other words, if you\u2019re anywhere from 18 to 34, you\u2019re probably a Millennial.\u00a0<\/span><\/p>\n

\u201cMillennials are the largest generation in the United States, making up more than a quarter of the nation\u2019s living population,\u201d the report explains. <\/span><\/p>\n

\n

They are the most diverse and the most educated. They are the first \u2018digital natives.\u2019 They have come of age in times of great economic prosperity and economic uncertainty. And they are incredibly nuanced.<\/span><\/p>\n<\/blockquote>\n

Millennials Dominate Crypto<\/span><\/h2>\n

Having grown up during a period of rapid technological advancement, the report says that this generation \u201ceagerly embraces disruption.\u201d It also found that when it comes to financial advice, 23 percent have enlisted robo-advisors.<\/span><\/p>\n

Other recent studies data sources tend to confirm the results of the aforementioned report. For example,\u00a0last month\u2019s online survey\u00a0by YouGov Omnibus produced very similar results. The research<\/a> involved 1,202 adults who revealed they\u2019re are interested in cryptocurrency exclusively, meaning they would ditch the U.S. dollar if given the chance.\u00a0<\/span><\/p>\n

Meanwhile, data from Coin.dance\u00a0shows that millennials dominate the cryptocurrency space with almost half of all users falling into the category.<\/span><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Earlier this year, Bitcoinist<\/em>\u00a0reported<\/a>\u00a0that millennials were much more likely to invest in cryptocurrencies than stocks, unlike Boomers. The financial crisis of \u201908 has made millennials more reluctant to invest in stocks. Namely, 13 percent of millennials chose cryptocurrency, compared to just 3 percent of those between the ages 45 to 64.<\/p>\n

In fact, many between ages 18-34 see investing in cryptocurrencies as a means to\u00a0save for retirement<\/a>, given the lack of seemingly better options alongside a deep distrust of the global financial system.<\/p>\n

Elsewhere, the given trend is pronounced in South Korea, arguably the world\u2019s biggest hotspots when it comes to Bitcoin 0<\/span>0<\/span><\/span> and cryptocurrency adoption.<\/p>\n

In March, Bitcoinist<\/em> reported<\/a> that over 20 percent of South Korean 20-somethings have bought cryptocurrencies. Moreover, those in their thirties (which together become a \u2018millennial\u2019 category) were the second largest group of crypto investors, of which 19.3 percent said they had invested in digital assets.<\/p>\n

Will Millennials be the generation that drives cryptocurrency adoption? Share your thoughts below!\u00a0<\/strong><\/em><\/p>\n

\n

Images courtesy of Shutterstock, coin.dance<\/em><\/p>\n

The post A Quarter of Rich Millennials Say They Own Cryptocurrency, Another Third \u2018Interested\u2019<\/a> appeared first on Bitcoinist.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A new study has revealed that more than a quarter of \u201caffluent\u201d millennials either have or are using cryptocurrency. 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