- Telecommunications Giant Vodafone Leaves the Libra Association
- Group of Central Banks Assesses Developing Central Bank Digital Currencies
- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
Survey: Millennial Men Are Most Likely to Invest in Cryptocurrency
Who is the key demographic group that is most likely to jump into the crypto waters and invest in one (or more) of the many digital currencies? A new study suggests that millennials would be most inclined to acquire cryptocurrency, and more specifically, millennial men.
The study, dubbed “The Future of Investing,” was commissioned by the global crypto-finance company Circle, and employed the extended reach of Survey Monkey Audience Panels. It consisted of over 3,000 participants divided into three main age groups: Millennials (ages 18-35), Generation X (36-51) and Baby Boomers (52-70).
Not particularly surprising due to their brazen youth, millennials are much more risk takers than the other age groups. 42% of millennial men and 27% of millennial women define themselves as very aggressive or aggressive investors; among the generation X age group, 34% of men and 19% of women define themselves as such; and lastly, only 16% of men and solely 9% of women amidst baby boomers see themselves as very aggressive or aggressive investors. Interestingly, there are also acute differences between the genders; men are generally more prone to cryptocurrency risks (17% of all male participants) than women, who are more conservative with their investments (only 8% of all female participants express their desire to invest in cryptocurrency).
In terms of investing habits, the different age groups demonstrate clear distinctions. While 40% of baby boomers have used an investment manager, just 24% of gen xers have done so, and only 16% of millennials have used one. Millennials are distinctively more tech-savvy – 50% of millennials use an app to invest compared with 30% of gen xers and only 10% of baby boomers.
Perhaps the most interesting topic of the study is the analyzed composition of crypto investors throughout the approximate year. Solely a puny 2% of baby boomers intend to invest in cryptocurrency over the next 12 months, whereas 10% gen xers wish to do so, and a whopping 25% of millennials plan to invest in crypto.
