Millennials Would Turn to Cryptocurrencies to Survive Recession.

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A survey from eToro reveals that 40 % of Millennials Would Turn to Crypto to Survive Economic Decline.  The social network and multi-asset brokerage firm had conducted a generational investment-focused survey from July 18 to July 31. One thousand US-based online investors participated in the study. They are aged 20-65, which means there are representatives from Gen Z, millennials, and Gen X. 

Millennials find crypto assets appealing

The result of the survey revealed that over 2/3 of US investors dread recession and out of their fears would turn to other safer investments such as real estate, commodities, and cryptocurrencies. 

Upon breakdown, eToro found out that there’s a considerable number of millennials who would prefer crypto assets over other safer investment alternatives. The figure accounts for 40%. On the other hand, 50% of Generation Z said that they see real estate as the best option, while 38% of Generation X would go for commodities. 

Guy Hirsch, eToro’s managing director in the United States, said that the firm expects to see massive growth in the crypto industry and other asset sectors once an economic decline happens. He further noted that in the past, only institutional investors or individuals with massive net worth have access to explore these kinds of investment opportunities. However, the series of innovations created the bridge for everyday investors to enjoy the same opportunities. As a result, the demands for such infrastructure had grown to a great extent as well. 

The looming fractional ownership system

According to eToro’s analysis, an economic decline would push investors to acquire fractional ownership and to embrace new kinds of assets. Notably, 92% of recession-fearful respondents said that they would prefer to invest their money on private startups, landmark buildings, and famous works of arts. Meanwhile, 55% of the respondents revealed that they would sell a part of their stock portfolio to pursue such plans.  

Hirsch added that investors of today are seeking more freedom than what the existing financial system and status allows, further citing that the new asset class provides what the younger generations are looking for.

 

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