Survey Reveals 40% Of Millenials Contemplate Investing In Crypto If Recession Occurs

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A recent survey reveals up to 40% of millennials would consider investing in cryptocurrency assets if a recession occurs, despite the current developments, including the US position on Libra and the volatility of crypto prices.

A news release on 10th September revealed a survey done on generational investment carried out from 18th – 31st July with 1,000 participants in the US.

The participants are also online investors, respondents were aged between 20- 60 years representing millennials, generation Z and generation X.

Studies of the survey revealed that over two-thirds of investors based in the US dread recession and would convert a section of their stock portfolios to considerably safer investments or safeguard them with commodities, crypto assets or real estate.

But are cryptocurrencies really a safer investment to move funds to, especially given the threat that the US might even ban them? Remains to be seen, but the fact is that in the meantime, investors have not gone back on trading on investment platforms with trading systems, on the contrary.

Crypto Assets Attract Millennials

40% of millennials amongst 1,000 people who took part in the survey preferred investing in cryptocurrency in case of an event of a recession. Whereas 50% of generation Z reported they would go for real estate. However, 38% of generation X would prefer commodities as a safer option.

The managing director of eToro US, Guy Hirsch, believes that in an event of a recession, shrinking stock portfolios will be observed whereas growth in assets like modern fractional ownership models, cryptocurrency, etc will be witnessed.

Fractional ownership is making its way

Investor’s interest can be diverted to fractional ownership as a result of the recession and newer asset classes with a majority (92%) of people concerned about recession state that they would prefer owning landmark buildings, fractions of famous artworks, along with private startups which come among other investments.

55% of total respondents stated they would prefer selling a part of their stock portfolio like a fund of their investment in the fractional ownership of such newer kinds of assets.

Hitch says that investors are demanding more freedom than they are allowed by the current financial status quo, as it would also help to engage even more younger investors.

A survey was done by Huru India recently which reveals that Indians with high net-worth are more likely to prefer investing in BTC than any other cryptocurrency.

While digital currencies were amongst the top 4 most sought after assets, almost half of the participants were unaware of what a cryptocurrency is.