Young generation of the US holds more crypto assets over mutual fund: Survey

A survey noted that US Millennials are more interested in cryptocurrencies than in mutual funds.

Crypto & blockchain adoption surging rapidly like air, thanks to unique use cases & benefits of this innovative industry. The majority of the people are showing interest in Crypto investment over traditional markets. But due to unclear regulatory policies and frameworks, the majority of the big companies show a lack of interest in this industry.

Recently Alto, an investment firm, surveyed the US population. The survey noted that 40% of millennials have investment in cryptocurrencies, which is a big number over mutual funds Investors. However, it was found that nearly the same number of people invested in the stock market. 

Around 70% of crypto holders have included cryptocurrencies in their Individual Retirement Accounts (IRAs). 

In particular, the majority of the people, which are not holding cryptocurrencies, are considering investing in cryptocurrencies. 

Eric Satz, Founder, and CEO of Alto said:

“In a world of conspicuous consumption, soaring living costs, and mounting student loan debt, millennials find it difficult to invest for the future because they are struggling to afford the present.”

Survey findings reported that the majority of the respondents showed interest in real estate investment as a priority option. Around 70% of respondents said that they will allocate their funds to real estate.

Around 2 years back, American billionaire Tim Draper suggested to millennials that they should invest in bitcoin if they want to secure their monetary future. Draper said that investment in Bitcoin may change life because it is the best investment strategy. 

Recently a survey was conducted and a report noted that 36% of millennials and 51% of Generation Z admitted that they would like to accept salary in Bitcoin or crypto payments. 

Read also: Tesla may report its millions of losses in Bitcoin