154% in value since January 1. On August 18, Cryptovantage published a
study that shows 3 in 4 crypto investors said they had made money on
their crypto holdings and cryptocurrencies represent 12% of the average
millennial portfolio.
3 in 4 Digital Currency Investors Have Profited
Following the recently published research
by Cryptovantage concerning people forgetting their crypto passwords,
the company published another poll surveying 1,044 people born between
1965 to 1997. The poll explains how millennials, xennials, and Gen Xers
invest in digital assets. “The popularity of crypto assets varied by
age,” the new Cryptovantage report called “Generational Philosophies on Investing in Crypto,” explains.
“Crypto-assets represented 12% of the average millennial portfolio,
compared to 9.2% of the average xennial portfolio and only 6.3% of the
average Gen Xer portfolio,” the study details. “Despite this larger
proportional holding, millennials were not the most likely to report
making a profit in cryptocurrency investing. Xennials, with the largest
total investment, were the most likely to make a profit off crypto
assets at 80.5%, compared to 76.2% of millennials and just 71.5% of Gen
Xers.” The survey adds:
It’s worth noting that 3 in 4 people profited off cryptocurrency investments overall.
Bitcoin Is the Most Popular Digital Asset, Xennials Prefer Bitcoin Cash, Dogecoin
The survey indicates that across all the generational participants, bitcoin (BTC) was the most popular and besides BTC, Millennials and Gen Xers preferred ethereum (ETH). Xennials, on the other hand, chose bitcoin cash (BCH) and dogecoin (DOGE) over ETH. Most of the Millennials chose to leverage services like Coinbase and a number of xennials prefer services such as Bitcoin IRA.
While the report notes that the lion’s share of participants detailed
that “curiosity” was the main reason for investing, the second most
popular reason was for high profits. Roughly 39% of the 1,044
respondents also explained that Elon Musk was beneficial to the
cryptocurrency ecosystem.
“Xennials were the most likely to start investing in cryptocurrencies
because they believed they offer security and transparency and will
give them greater independence,” the Cryptovantage report author wrote.
“Gen Xers were the least likely to believe those same ideas; however,
they were more likely than both millennials and xennials to view cryptos
as the currency of the future.”
