Millennials (40% Of Them) Look To Crypto In The Event Of Recession: Survey
According to new data in the latest cryptocurrency news, even 40% of millennials would prefer to invest in crypto assets in the event of a recession. A news release recently shared with some of the leading sites in the crypto industry shows, multi-asset investment platform and social network eToro cited a survey which was conducted in July this year to around 1,000 online investors in the United States.
The respondents of the survey were around 1,000 and were asked about cryptocurrency online. They represented Generation Z, millennials and Generation X. As many best cryptocurrency news sites noted, more than two thirds of the US based investors are afraid of a recession and would consider converting part of their stock portfolios to safer investments or hedge with cryptocurrency assets, commodities or real estate.
The survey participants were millennials. Among them all, even 40% said that they would prefer to invest in crypto assets if a recession occurs, while 50% of Gen Z said they would choose real estate. When it comes to Gen X, even 38% said that they would hedge with commodities.
The managing director of eToro US, Guy Hirsch, commented on the survey on millennials, saying:
â€œWe believe that if a recession were to occur, weâ€™d see shrinking stock portfolios and growth in other asset classes like crypto, as well as new fractional ownership models. Historically, these investment opportunities have been limited to high net worth and institutional investors, but innovation is unlocking these opportunities for everyday investors and clearly, these results indicate that the demand is there.â€�
What’s interesting, as the Bitcoin and altcoin news show, is that a recession would purportedly fuel investors’ interest in fractional ownership and new asset classes. Even 92% of the millennials concerned about a recession said that they would own fractions of famous artworks, landmark buildings and private startups among the types of investments.
Of all the respondents, 55% said that they would sell portions of their stock portfolio to fund their investment in fractional ownership of the new types of assets. According to Hirsch, investors want more freedom than the current financial status quo allows right now, engaging younger investors.
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