Report: 88% of American millennial want to invest in cryptocurrency

cryptocurrency

Sustany Capital, an investment firm focused on blockchain technologies, recently explored the number of Americans looking to add cryptocurrencies into their investment portfolios.

According to the study, a total of 88% of the surveyed 1,000 American adults would say that they want to extend their investment options to include cryptocurrencies and a further 42% claimed that they would look to using cryptocurrency as some manner of savings. The report by the firm also showed that over 75% of those surveyed view cryptocurrencies as an investment option (rather than a means of tender). This is interested owing to the fact that 75% also expressed concern about the risk of security of the technology involved.

Sustany Capital also took into account the interest that different age groups have in initial coin offerings (ICOs) and the findings are notable. Gen Z (generally defined as those born between the mid-1990s and the early 2000s) came up that 59% and 44% of millennials (those born between 1980 and the mid-1990s) found the technology in ICOs the most important aspect in a project. 33% of Gen X (those born between 1961 and 1981) and 25% baby boomers (those born between 1946 and 1964) answered that the technology was key.

When considering the purpose and intention of the project, rather than the tech involved, the statistics were almost oppositional. 6% of Gen Z, 12% of the millennials, and 33% of Gen X claimed that the intention is the most important feature of an ICO.

Furthermore, 50% of baby boomers believe that the team is the most important aspect, with only 13% of millennials and a measly 6% of Gen Z saying the same.

Regarding the study, Sustany Capital’s managing partner Christian Kameir expressed the importance of understanding blockchain:

“To understand cryptocurrencies, you must first understand blockchain technologies. Blockchain technology–not cryptocurrencies–will impact most industries in profound ways.”

With this quotation in mind, the survey found that nearly 25% of those surveyed knew little to nothing of the technology.

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