Specialists of Sustany Capital investment company have conducted a research and found that millenials are more interested in Bitcoin and other cryptocurrencies than representatives of other generations.
Generation Y or millenials are people born after 1981 and who celebrate the new millennium at a young age. The main feature of this generation is its deep involvement in digital technology.
Sustany Capital said more than 88% of US billionaires want to invest in cryptocurrencies. However, these figures do not coincide with the recently published results of Finder.com, which has a similar figure of 17%.
Sustany Capital estimates the potential percentage of millennials that want to add cryptocurrencies to their portfolio.
Their sample consisted of 1000 adult Americans, some of whom are convinced that the cryptocurrency can be a good investment for them. Of all those surveyed, 25% of adults had a superficial understanding of blockchain technology.
The study also found that some college students (over 21%) invest their scholarships and student loans in Bitcoin and other cryptocurrencies.
“It is very risky to use student loans for cryptocurrency investments, as they have higher interest rates and stricter repayment conditions than federal student loans,” the study notes.
According to Forbes, millenials invest in cryptocurrency funds to secure their pensions. Interestingly, a report by the National Institute of Retirement and Retirement Services (NIRS) found that 95% of millennials in America have no strategy for future savings.
Recently, a well-known consulting company Capgemini has published data on the state of the world’s richest people and their investments. It turned out that investments in digital currencies of millionaires reached a record high.