Study: Millennials Believe in Crypto
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Nov. 1, 2018
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25% of wealthy American millennials already own cryptocurrencies. Another 31% are actively interested in this topic. This is the conclusion reached by the authors of the research ‘Millennials With Money’ by the company Edelman.

Researchers consider Americans between the ages of 24 and 38 years old to be wealthy with a personal or family income of $100,000 per year or $50,000 in investment.

Study: Millennials Believe in Crypto

The report also states that millennials make up the largest generation in the U.S. and account for more than a quarter of the country's total population. Researchers believe that this is the most versatile and educated group of people. It is noted that this is the first "digital generation" that has experienced economic prosperity and economic crisis. These factors make millennials very flexible, the authors of the document consider.

The report notes that millennials are unhappy with the current financial system. Out of 1,000 respondents, 77% of the wealthy ones and 65% who don’t belong to this category believe that the current system only benefits the rich and powerful people.

Three-quarters of the wealthy millennials fear that the global financial system will be hacked and their personal data stolen. The same concerns are shared by 58% of the less wealthy respondents. At the same time, 74% expect that the blockchain will make the financial system more secure.

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The findings of the Edelman study confirm the results of studies by other companies. Here are some of them.

A YouGov Omnibus online survey conducted last month received very similar results. Millennials (44%) are the most likely of any age group to say cryptocurrency will be widely accepted. About one-third (34%) of Gen X’ers and 29% of baby boomers agreed.

Study: Millennials Believe in Crypto
YouGov Omnibus

Sustany Capital also shared the results of a study that reveals that millennials are confident in investing in crypto. 1000 Americans took part in the survey. 88% of millennials said they want to own cryptocurrencies as an investment, with 42% desiring to use cryptocurrency as savings.

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The data of the statistical portal also suggests that the generation of millennials dominates the cryptocurrency space, making up almost half of its users.

Study: Millennials Believe in Crypto

Millennials are also more willing to keep their savings in cryptocurrency. According to survey from Bankrate, 5% of millennials say bitcoin is the best place to put money they won't need for 10 years or more. Only 1.2% of Gen X-ers (ages 38 to 53) favor it for long-term saving, and less than 1% of boomers (ages 54 to 72) do.

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At the end of last year, the London Block Exchange conducted another survey on the same topic. The study involved about 2,000 Brits. According to its results, 5% of respondents under the age of 35 have already invested in cryptocurrency, while 28% were going to invest in digital money in 2018. I wonder if they really did it? We will wait for a new study.

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