- The new survey was conducted by CNBC and the research firm.
- 11% of survey participants had bought crypto with their stimulus money.
- 21% described crypto as a short-term investment.
According to a new survey, over one in ten American citizens aged between 18 to 34 have invested part of their Covid-19 stimulus checks into crypto assets.
Furthermore, the new survey, conducted by CNBC and the research firm. The survey suspected 5,530 adults and found that 11% of survey participants had bought cryptocurrency with their stimulus money. Nearly half of the respondents in the survey found to have fed their stimulus money into investments broadly. While 15% seeking exposures to stocks, 9% investing in mutual funds, and 6% backing exchange-traded funds (ETFs).
More so, most of the young Americans seem cryptocurrency appears bullish for prospects. With 60% of survey participants indicating they see crypto assets as a long-term investment. In contrast, 21% described crypto as a short-term investment, regardless of 26% noted they are appealing with the market out of excitement.
Henceforth, Harris Poll noticed the growing interest for crypto amongst young Americans from a poll that they conducted in March. According to the survey, 7.5% of Millennials had invested their pays into virtual currencies at that period.
Even more, the Momentive Polls also noted a spike in investment interest amongst Millennials and Gen Zers during 2020. The survey established that many young Americans used mobile trading apps to invest while the social platform is their dominant source of market analysis.
Even though, Australian young crypto investors are also seeking sizable profits from their cryptocurrency investments too. In detail, according to the survey of Australians commissioned by local crypto exchange Swyftx, nearly 20% of the respondents identifying as a Millennial or Gen Xer reported profiting by tens of thousands from crypto investment over the past 12 months.