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Millennial millionaires love Bitcoin

 


As the crypto market continues its roller coaster ride, a survey by CNBC paints a clear picture. Millennial millionaires love Bitcoin.

The crypto market is constantly up and down - and it is still today. Bitcoin's chart over the last seven days is like a rollercoaster ride. Overnight, the digital store of value lost 4.2 percent compared to yesterday's trading day. On a weekly basis, this means a loss of 1.8 percent. At press time, BTC is trading at $ 47,006.

Bitcoin's decline is also having an impact on large parts of the altcoin sector. The ten most valuable cryptocurrencies by market capitalization are all in the red. Ethereum, Cardano and Polkadot got hit the hardest with a loss range between 4.4 and 6.8. With a minus of 1.8 percent, Ripple is still the most stable in value.

Millennial millionaires love Bitcoin

However, the volatility hardly harms the popularity of Bitcoin and Co. - on the contrary. If you look at a new survey by the US television station CNBC, the picture is clear - especially among millennial millionaires. According to this, almost 83 percent of all millionaires of the generation hold cryptocurrencies, of which 48 percent even want to replenish their stocks in the coming year. For comparison: only 4 percent of the millionaires of the so-called baby boomers confirmed that they were invested in cryptocurrencies.


In addition, 53 percent of millennial millionaires said that more than half of their wealth was made up of crypto assets. A third even said that their investment in Bitcoin and Co. even made up more than 75 percent.

Almost 45 percent of millennial millionaires cited concerns about rising inflation as the reason for the high investment share. Most of the respondents believe that the phenomenon of inflation will be a constant companion. The young wealthy weighted the negative consequences differently than their less well-off fellow citizens. While the majority of the population fears price increases due to inflation, millennial millionaires worry about rising interest rates, as these would have a direct impact on their crypto investments.

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