According to a new survey, more than one in ten American residents aged 18 to 34 have invested a portion of their Covid-19 stimulus cheques in crypto assets.
The survey, conducted by CNBC and research firm Momentive, polled 5,530 persons and discovered that 11% of those polled had purchased cryptocurrencies with stimulus funds.
Approximately half of the respondents were found to have invested their stimulus funds broadly, with 15% seeking exposure to stocks, 9% investing in mutual funds, and 6% supporting exchange-traded funds (ETFs).
The majority of young Americans are optimistic about cryptocurrency’s future prospects, with 60% of survey participants seeing digital assets as a long-term investment. In contrast, 21% regarded cryptocurrency as a short-term investment, while 26% said they are participating in the market out of curiosity.
Crypto appetites among young Americans appear to be increasing as well, with a Harris Poll conducted in March revealing that only 7.5 percent of respondents had invested their stimulus cheques in digital assets at the time.
The Momentive Poll also discovered an increase in investing interest among Millennials and Gen Zers in 2020. According to the report, the majority of young Americans use mobile trading apps to invest, and social media is their primary source of market information.
Those who were brave enough to put their first stimulus check into cryptocurrency last year have reaped rich dividends.
According to Bitcoin Stimulus, anyone who invested the full first $1,200 stimulus payment received on April 15, 2020 into BTC would now have more than $8,600 Young crypto investors in Australia are also profiting handsomely from their cryptocurrency investments.
According to a poll of Australians commissioned by local crypto exchange Swyftx, 20% of participants identifying as Millennials or Gen Xers reported benefitting by tens of thousands of dollars from crypto investments in the previous year. a 620 percent gain.
Young crypto investors in Australia are seeing sizable profits from their cryptocurrency investments too.
According to a survey of Australians commissioned by local crypto exchange Swyftx, 20% of participants identifying as a Millennial or Gen Xer reported profiting by tens of thousands from crypto investments over the past 12 months.