A new survey by CNBC shows that at least 48% of US millennials want to buy crypto in 2022. These digital assets have been quite popular among this age group, and it’s not hard to see why.
In fact, the CNBC survey shows that at least 83% of all US millennial millionaires have crypto in their portfolio or have invested in it in the past. But why are millennials keen on doubling down on crypto investments next year? Here are some reasons:
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First, inflationary pressures due to COVID and the global supply chain crisis will drive investments towards crypto
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Also, sentiment around cryptocurrency appears bullish at best in the near term
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We may also see policy tightening from the Fed next year, something that may make equities less attractive.
How Is Crypto Sentiment Right Now?
The crypto market has been up and down of late. But even amidst this massive volatility, growth has been reported. Overall, the long-term sentiment around crypto remains bullish. But this of course, depends on the type of coins. DeFi tokens and in particular, GameFi are worth watching.
Data Source: Coinmarketcap.com
Where Will the Money Flow?
Data Source: Coinmarketcap.com
AS more millennials look into crypto in 2022, the big question is, where will they put their money? First of all, the main large-cap coins like BTC and ETH will be a fair game no doubt. But we are also going to see proper diversifications with DeFi tokens getting more attention than ever before.
It is also likely that NFTs will make a significant part of crypto investments next year. Although NFTs are new, they offer an exciting and futuristic prospect. This often drives positive sentiment among millennial investors. But based on this CNBC data, it is clear that many millennials are going to continue building wealth through crypto as a serious asset class.