Yes, the crypto market has been a mess all throughout 2022. And of course, it has been mirroring the US stock market for quite a long time. However, the slump is almost entirely associated with the current state of the world. In a sense, investment in both crypto and stock has been underwhelming to say the least. However, when it comes to the future, recent studies suggest that young investors still prefer the crypto market. A recent study by Bank of America has revealed some very interesting results. In short, the numbers indicate that people are losing interest in traditional investments. Continue reading as we go over the key points.
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Crypto Market Vs. Stocks
Recently, the market research firm Escalent did a study on behalf of the Bank of America. They polled 1,052 wealthy respondents across the U.S. All respondents were over the age of 21 and maintained at last $3 million in assets.
Interestingly, investors between the age of 21 to 42 have only invested a quarter of their assets in stocks. Consequently, 75% of them believe that “it’s no longer possible to achieve above-average returns” on traditional assets. Clearly, this indicates a loss of faith in stocks and other traditional assets. And wouldn’t you know it, their top choice for the moment is crypto.
Furthermore, almost a third of investors in the same age group have faith in crypto market. According to the study, for them, crypto “presents a leading opportunity to create wealth.” As for other investments, the same group is also interested in such as private equity, debt and ESG-related ventures.
This is the Way…
Speaking of crypto, 64% of young investors claimed that hey understand crypto quite well. On top of that, 35% of them believe crypto market to be a mainstream investment platform in half a decade.
With that, 15% of young investors had crypto in their portfolio while 32% believed digital assets to be a great long-term investment.
However, it is also important to take a look at crypto related stocks. In that regard, nearly half of young investors have stocks belonging to digital asset space. Moreover, around 60% of them have direct exposure to crypto assets. And where would we be without talking about NFTs? Yes, they are interested in NFTs. In fact, 59% of the young investors have expressed their interest in expensive JPG files.
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