Despite the recent decrease in cryptocurrency prices, most millennial millionaires have made cryptocurrency investments in India. Moreover, according to a recent study conducted by CNBC and published online, they intend to add more cryptocurrency investments to their portfolios by 2022.
According to the survey findings, more than half of American millennial millionaires possess cryptocurrency investments, and about a third have at least three-quarters of their cryptocurrency investments in 2022 in Bitcoin, Ether, and other cryptocurrencies.
It is important to understand that a millionaire has a net worth or fortune of at least one million dollars. On the other hand, a millennial is a person who was born between the years 1981 and 1996.
According to the poll results, millennials are more likely than other investors to be interested in cryptocurrency investments in India. Older generations of millionaires had far fewer cryptocurrency investments than millennial millionaires. More than three-quarters of Gen X investors do not own any cryptocurrency investment strategy," according to the report.
Almost half of the millennials questioned indicated they expect to increase their cryptocurrency investments in 2022, while only 39 per cent said they plan to keep their current levels of cryptocurrency investments. Conversely, according to the survey, only 6% of those surveyed said they planned to reduce their cryptocurrency investments next year.
According to a poll conducted by data analytics firm Engine Insights in late November, more than half of Generation Z (born between 1997 and 2012) feel that investing in cryptocurrency investment tips may help them become financially secure.
According to a new analysis by Crypto Research and Intelligence Business (CREBACO), about 15 million Indians have already adopted crypto and committed close to 10 billion dollars in cryptocurrency investment tips.
A study by financial platform Stilt earlier this month found that nearly all cryptocurrency buyers are younger than 40, with only 6.14 per cent being above the age of 40. According to a blog post from the corporation, millennials and Gen Z's are still investing in Bitcoin "in spite of more limited access to credit and bigger quantities of debt".