According to the latest <a href="https://www.cnbc.com/2021/12/16/millennial-millionaires-plan-to-add-more-crypto-in-2022.html" target="_blank" rel="nofollow noopener">CNBC Millionaire Survey</a>, the majority of wealth of most millennial millionaires comes from cryptocurrencies with plans to add more next year despite the recent price drop. The survey also goes on to show that inflation is the number one economic fear for the first time in recent history among the millennials.
<h2><strong>Millennial Millionaires Plan to Buy Cryptos Next Year</strong></h2>
According to a survey of investors with $1 million or more in investable assets, 83 percent of <a href="https://www.cryptoknowmics.com/news/digital-assets-will-cause-millennials-to-dump-gold-for-bitcoin-barry-silbert/">millennial</a> millionaires own cryptocurrencies with 53 percent having at least 50 percent of their wealth in crypto. Nearly a third have at least three-quarters of their wealth in bitcoin, ether and other types of cryptocurrencies.

Despite the recent price declines, about 48 percent plan to add to their holdings over the next 12 months, while another 39 percent plan to maintain their current crypto levels. Only 6 percent of millennial millionaires plan to reduce their crypto investments over the next year.

In contrast, only 4 percent of baby boomers hold any cryptocurrency, while more than three quarters of Gen X investors don’t own any crypto, according to the survey. This shows older generations of millionaires are still largely skeptical of crypto and its future. While younger generations who are entering early are making rapid profits through crypto investing.
<h2><strong>Self-Made Millionaires Via Crypto Investing</strong></h2>
George Walper, president of Spectrem Group, which conducts the survey with CNBC opines that there are two broad categories of millennial crypto investors-those who made their millions from crypto and those who added to their existing wealth (such as inheritance or startups) by investing in crypto.

Those who got into crypto years ago, with small stakes from their incomes, have become self-made millionaires thanks to crypto returns that vastly outperformed stocks and other asset classes. While 45 percent of millennial millionaires credited inheritance as a factor in their wealth, according to a Spectrem survey. Among the millennials worth $5 million or more, inheritance was the top factor (at 75 percent) in their wealth.

Most Millennial Millionaires Invest in Cryptocurrencies: CNBC Survey

According to the CNBC Millionaire Survey, the majority of wealth of most millennial millionaires comes from cryptocurrencies.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Most Millennial Millionaires Invest in Cryptocurrencies: CNBC Survey

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