BofA points to the increased interest in crypto assets from young investors

At the same time, the share of traditional financial assets in the portfolio of wealthy young people does not exceed 25%

17.10.2022 - 11:00

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2 min

What’s new? According to a Bank of America survey, young investors from the United States invest in cryptocurrency 7,5 times more often than older investors. The study was conducted online from May to June 2022 and surveyed 1052 people aged 21 and older with more than $3 million in savings.

News on the Bitcoin.com website

What other data has been released? 29% of respondents aged 21 to 42 noted that cryptocurrencies provide the greatest opportunity for wealth growth, with traditional financial assets making up only a quarter of their portfolio. In the 43 and above age group, equities account for 55%, while only 7% agreed with the statement about the leading role of digital assets.

50% of younger investors rely on information and advice from social media when choosing assets for their portfolios. Among the older group, only 30% of respondents use such a strategy.

It is noted that the study involved a representative sample of the US high-net-worth population, not all respondents are clients of BofA.

In July, representatives of BofA conducted a survey among 1000 respondents from the United States. 91% of them plan to buy cryptocurrency by the end of the year. 30% intend to use digital assets as long-term investments. 39% used cryptocurrency as a means of payment for online purchases.

Toluna’s October survey of 10 500 people aged 18 to 64 from four regions around the world found that 60% of respondents do not understand cryptocurrency technology. 42% called the asset a risky investment, despite the potential short- and long-term benefits.

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