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American millennials invest more in crypto than mutual funds

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Alto, an investing firm in the United States found out that 39% of Millennials in America hold digital assets. Individual stocks are owned by nearly the same percentage, as estimated in the American crypto survey.

While some had a small portion of their wealth in mutual funds, the majority had some of their hard-earned money in crypto. Seventy percent of investors with a long-term outlook included cryptocurrencies in their Individual Retirement Accounts (IRAs).

Additionally, the American crypto survey found that citizens within the aforementioned age group who do not own any forms of digital currencies are considering entering the space in the not-too-distant future despite reservations by Warren Buffet and Bill Gates on the use of Bitcoin.

With that said, the current crypto climate where all cryptocurrencies are trading below 50% of all-time highs has made it difficult for millennials to throw money behind any digital asset. Commenting on the insights from the study, founder and the Chief Executive Officer (CEO) of Alto, Eric Saltz said that in a modern world of conspicuous consumption, soaring living costs, and student loan debt reaching new highs, millennials are struggling to afford the present which makes it difficult to them to invest for the future.

Out of the assets available for investments, millennials are more interested in putting their monies into real estate. Statistically, 77% answered they would invest in properties, 55% are interested in testing Angel investing, and 67% were interested in jumping into innovation funds.

Another study conducted by deVere Group, an international financial consultancy firm revealed that 51% of Generation Z (born between 1997 and 2012) and 36% of millennials would prefer receiving half of their salaries in cryptocurrencies instead of fiat money (USD).

According to the Chief Executive Officer (CEO) of deVere Group, Nigel Green, many youngsters grew up within the technological revolution, and are accustomed to digital things. This has made it easy for them to embrace the latest innovation in the financial sector since they see massive potential in the use of cryptocurrencies.

Moreover, per a survey by the Consumer News and Business Channel (CNBC) in June, 47% of millennial millionaires have at least 25% of their wealth in the decentralized finance market.

For the latest crypto business news, visit Moni Talks.

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Author: Brendan Beeken

Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is

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