Majority of millionaire millennials now have heavy exposure to crypto markets

The results of the CNBC Millionaire Survey show that millennials are heavily investing in crypto markets. Surveying 750 investors with at least $1 million in investable assets, the survey found that nearly half (47%) of millennials hold at least a quarter of their wealth in cryptocurrencies. The survey adds that more than a third of millennial millionaires invest at least 50% of their assets in cryptocurrencies. In contrast, older millionaires tend to stay away from the cryptocurrency market, with only 10% holding more than a tenth of their assets in cryptocurrencies and 83% having no investments in the emerging asset class. George Walper, head of Spectrem Group, who conducted the research, says the growing interest of young investors in crypto assets is causing a shift in the financial industry. “Young investors were more intellectually interested in the idea, even if it was new. Older investors and risers are largely 'Is this legal? … We are seeing more and more providers providing access to crypto investments. It changes rapidly.” The research also reveals a clearer distinction between young and old millionaires when it comes to non-changeable tokens (NFTs) or digital assets with cryptographic features that allow the blockchain to verify ownership of the item's authenticity. 98% of baby boomer millionaires i say they do not own or plan to have an NFT, while nearly half of wealthy millennials have NFTs and 40% say they consider owning an NFT. In addition, two-thirds of millennial millionaires say NFTs are "a meanwhile, most millionaires say they don't even know what NFT is, and more than a third think it's just an "over-hyped fad." Don't miss a thing – Subscribe to receive crypto email alerts straight to your inbox be Follow us on Twitter, Facebook and Telegram Browse The Daily Hodl Mix Check the latest news Headlines So Disclaimer: Opinions expressed in The Daily Hodl are irrelevant

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