Millennials 3 Times More Likely to Invest in Crypto Than Gen X: Survey

Cryptocurrencies are three times more popular among American millennials as a long-term investment as they are for Generation X.

Crypto is Americans’ 7th most popular long-term investment

According to the results of a nationwide Bankrate survey, published on July 17, 9% of millennials chose crypto as their top long-term investment option — roughly threefold the percentage among earlier generations. 

More broadly, the survey revealed that cryptocurrencies are the seventh most popular investment option among Americans — with 4% of respondents choosing them as their top choice for a minimum 10-year investment. This 4% figure was lower than the 5% of respondents who chose “None” in response to a list of assets they would choose to invest their cash in the long term.

The most popular asset class was real estate, at 31% — notwithstanding the 2008 real estate crash and expected slowdown this year.

Americans’ top asset choices for investing money they wouldn’t need for more than 10 years. Courtesy of Bankrate

Fresh crypto surveys

As reported yesterday, 49% of Americans and Brits have revealed they would not trust Facebook in regards to its much-anticipated stablecoin Libra, citing privacy concerns.

A spring 2019 survey indicated that 11% of the American population owns Bitcoin (BTC), indicating that Bitcoin ownership is a “demographic mega-trend” led by the younger generation in the 18-34 year age range. Nonetheless, 89% of U.S. citizens had heard of the cryptocurrency, regardless of their generation.

That same month, a separate survey found that approximately 3% of American retirees own bitcoin.

Meanwhile, a survey from earlier this month suggested that 26% of Generation Z — generally defined as those born after 1997 — would be somewhat, very or extremely likely to buy cryptocurrency in the next 6 months.