Survey: 40% of Millennials Look to Crypto in the Event of Recession
Ana Alexandre's original article for cointelegraph.com reduced by 74%
New data suggests 40% of millennials would prefer to invest in crypto assets in the event of a recession. In a news release shared with Cointelegraph on Sept. 10, multi-asset investment platform and social network eToro cited a survey on generational investment conducted from July 18 to July 31 among 1,000 online investors in the United States.
Respondents aged between 20 and 65 years represented Generation Z, millennials, and Generation X. The survey found that more than two-thirds of U.S.-based investors are afraid of a recession, and would consider converting part of their stock portfolios to safer investments or hedge with crypto assets, commodities or real estate. Among survey participants, 40% of millennials 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.
"We believe that if a recession were to occur, we'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." A recession would purportedly fuel investors' interest in fractional ownership and new asset classes, with 92% of those most concerned about a recession saying they would own fractions of famous artworks, landmark buildings and private startups, among other types of investments. Per Hirsch, investors want more freedom than the current financial status quo allows, which would help to engage younger investors.
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Summarised crypto news.