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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.