In a new study published this week, the Bank of America (BoA) reveals that 75% of young people surveyed believe that it is no longer interesting to invest in traditional finance and favor alternative assets such as cryptocurrencies in their portfolios. .
Cryptos, the favorite investment of millennials
This week, Bank of America (BoA) published a study on the investment plans of different generations of Americans. Conducted on a panel of 1,052 wealthy individuals with a minimum budget of $3 million, it revealed a real paradigm shift in the vision of investment between the different generations.
In a short video accompanying this study, Jeff Busconihead of private banking services at Bank of America, explains that new generations believe that a portfolio of stocks no longer ensures an attractive return.
But then, what do they turn to? The report reveals that millennials (21-42 years) allocate 16% of their portfolio in alternative assets, including cryptocurrenciesagainst only 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 biggest opportunities lie in digital assets. Almost half (47%) hold cryptocurrencies. »
Moreover, by 2045, it is estimated that $84 trillion should gradually pass baby boomers towards millennials and generation X. Thus, the 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 equity market dominates the debates by far. While its overall capitalization is around the 100 trillion dollarsthat of the cryptocurrency market stagnates around $1 trillion only. According to the Bank of America, it’s a safe bet that the evolution of generational mentalities will lead to a balancing which would therefore benefit cryptocurrencies.
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Source: Bank of America
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