The results of a global poll carried out by the international financial consultancy firm – deVere Group – revealed that 36% of millennials and 51% of Generation Z would be happy to get half of their paychecks in digital assets instead of fiat.
Crypto Is The Future of Money for The Youngsters
Seen by many as a financial revolution and a global technological development, the cryptocurrency industry is prevalent among people younger than 40-years-old. With that said, it is no wonder that more than a third of those born between 1980 and 1996 and 51% of those born 1997-2012 would like to receive half of their salaries in bitcoin and/or alternative coins, a recent deVere Group study determined.
Nigel Green – CEO and Founder of the company – explained that youngsters find the asset class attractive due to the technological developments happening when they were kids. Influenced by the “enormous surge” in innovations throughout their life span, they are the ones to understand the “massive potential of digital currencies.”
Green added that Millennials and Generation Z would rather support an autonomous decentralized digital currency and payment network than a traditional system where monetary institutions and governments are in control.
“They clearly believe that crypto is the inevitable future of money,” the top executive asserted.
Nigel Green, Source: South China Morning Post
While on the matter of millennials, according to another research, 47% of such millionaires have invested at least 1/4 of their wealth in digital currencies. 30% of them have allocated half of their assets in the market.
Which Age Group Is The Most into Crypto?
A separate survey from the end of September revealed which generation is the most inclined to deal with bitcoin and alternative coins. Per the results, millennial investors are the leaders since 12% of them answered they have distributed some of their wealth into the asset class. Xennials were second with 9.2%, while Generation X marked 6.3%.
Asked whether they have profited from their investments, 76% of the millennials answered with “yes.” Interestingly, xennials (those around 40-years-old) held the first position in that statistic with 80.5%. Generation X – the oldest generation among these three – was at the bottom of the ranking with 71.5%.
Approximately 60% of all age groups find bitcoin as the most preferable cryptocurrency investment asset. Ethereum is second for millennials and Generation X. However, it is the fourth choice for xennials who tend to go for Bitcoin Cash and Dogecoin.