Young Americans aged between 21 and 42 are 7.5 times more likely to hold crypto in their portfolios than investors over 43, a new survey from Bank of America shows.
According to the survey, younger Americans with money to invest are also less interested in stocks than older investors, with the younger cohort instead viewing crypto and other so-called alternative investments as their “No. 1 choice.”
An alternative investment normally refers to investments in any other asset than stocks, bonds and cash. This investment category has become increasingly popular in recent years, as many investors have seen the stock market as overvalued and risky, while bank savings have paid out interest rates far below the rate of inflation in most Western countries.
“While overall [crypto] usage is low, younger people are 7.5 times more likely to hold crypto in their portfolios and five times more likely to say they understand it quite well,” the bank commented, stressing the importance of age when it...
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