In a new study released this week, the Bank of America (BoA) reveals that 75% of young people surveyed believe it is no longer interesting to invest in traditional finance and favor alternative assets such as cryptocurrencies in their portfolios. .
Cryptos, the investment of choice for millennials
This week, the Bank of America (BoA) published a study on the investment plans of several generations of Americans. Conducted on a panel of 1,052 wealthy individuals with a minimum budget of $ 3 million, he revealed a real paradigm shift in the investment vision between the different generations.
In a short video accompanying this study, Jeff Busconihead of private banking services at Bank of America, explains that the younger generation believe a portfolio of stocks no longer guarantees an attractive return.
But then, what are they aimed at? The report reveals it millennials (21-42 years) to allocate 16% of their portfolio in alternative goods, including cryptocurrenciesonly against 5% for baby boomers (43 years and older) and 2% for the rest of the general American population.
“While investors over 43 argue that US equities offer the best opportunity for future growth, younger investors believe the greatest opportunities lie in digital assets. Almost half (47%) hold cryptocurrencies. “
Furthermore, by 2045, it is estimated that $ 84 trillion should gradually pass the baby boomers towards millennials and generation X. Therefore, Bank of America predicts that the change in generational interest will have a considerable and lasting impact on the future of financial markets.
Currently, the stock market dominates the debates by far. While its overall capitalization is around the 100 trillion dollarsthat of the cryptocurrency market stagnates around Only $ 1 trillion. According to the Bank of America, it is a safe bet that the evolution of generational mindsets will lead to a balance which would therefore benefit cryptocurrencies.
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Source: Bank of America
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