40% of Millenials Would Invest in Cryptocurrencies During a Recession
It seems that millennials have a different mindset than most other generations. According to a new survey by eToro, around 40% of millennials would be open to investing in cryptocurrencies as a hedge during a recession.
With around two-thirds of all Americans fearful of a coming recession, each generation has different opinions on the best steps going forward. According to a recent poll by cryptocurrency exchange eToro though, it would seem that a large number of millennials are surprisingly open to investing in crypto if a recession were to hit.
The poll of 1,000 found that 40% of millennials (born between 1980 – 1994) would prefer to invest in cryptocurrencies during a recession. Generation X (born between 1965 – 1994) have a preference for tangible goods where Generation Z (born from 1994 onwards) are most likely to prefer real estate.
According to Guy Hirsch, Executive Director of eToro’s US Branch, these results indicate changing perceptions on the cryptocurrency space as a whole, especially among younger professionals.
“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.”
Since Bitcoin was born out of a recession, it seems as though the token market may thrive as a possible hedge during a recession. Security tokens would part of this paradigm shift, of course.
How do you think a recession would impact the cryptocurrency market? Let us know your thoughts in the comments down below.
Image courtesy of TheAmericanConservative.