40% Of Millennials Would Prefer To Invest In Crypto If Recession Hits
40% of Millennials, or those born between 1980 and 1994, declared that they would prefer to invest in cryptocurrencies.
According to a new survey conducted by eToro, 40% millennials would prefer to invest in crypto assets in the event of a recession. eToro is a global trading platform with 11 million registered users.
eToro found that more than two-thirds of US investors fear a recession is taking place. Recession-prone people want to keep part of their stock portfolio relatively safe with investment in commodity, real estate or cryptocurrency.
The survey was conducted online from July 18 to July 31, 2019 among 1,000 US online investors. Respondent ranged in age from 20 years to 65 years. Respondents also declared that they trade online and they currently or planning to invest in stocks, cryptocurrencies or ETFs within the next 6 months.
According to the survey, 40% of Millennials declared that they would prefer to invest in cryptocurrencies and 50% of Generation Z ( born in 1995 or later) respondent would opt to invest in real estate. Guy Hirsch, managing director of eToro U.S., said:
"We believe that if a recession were to occur, we'd see shrinking stock portfolios and growth in other asset classes like crypto, as well as new fractional ownership models. Historically, these investment opportunities have been limited to high net worth and institutional investors, but innovation is unlocking these opportunities for everyday investors and clearly, these results indicate that the demand is there."
According to the Hurun Indian Survey, which was recently done among wealthy Indians. Wealthiest Indians called as High Net-Worth Individuals (HNIs) in India are more likely to invest in Bitcoin than other cryptocurrencies as they believes cryptocurrencies are good investment.