Michelmores, a law firm located in London, did a research among wealthy millennials from the UK about their interest in cryptocurrency investment.
Research and conclusions
The survey concerned people born in 1981-1996 who are in the possession of various kinds of assets (with a total value of £25,000 or more) and who are ready to invest them. On September 17, the results of the study were published on FXStreet, revealing that about 20% of respondents declared that they had invested in cryptocurrencies at least once.
It is, therefore, a much higher percentage than if looking at cryptocurrency investors without a division by age and earnings in Great Britain (3%). It clearly shows that young people trust the new type of assets much more. Moreover, if taking into consideration those with even more funds (£75,000), the number goes as high as 29%. 70% of the respondents admit that funds are derived from their daily earnings, 40% say they are returns from previous investments.
Confirmation of the trend
All in all, there is nothing surprising in the British study because it has long been known that the cryptocurrency industry is the most popular among 30-year-olds and younger people.
Michelmores' research only confirms what has been studied before. In the United States a similar research was carried out, showing that cryptocurrencies among American millennials are number one in the case of long-term investments. People from this generation reach for this type of assets three times more often than their ancestors from generation X (born in 1960-1980).
Generation Z, that is mostly people born in the 21st century, also expresses interest in this industry. In July, 26% of them declared in the Business Insider survey that in 2019 they intend to invest in cryptocurrencies.