Recently, investing firm Alto recently surveyed adults based in the United States to find out their investment preference. The results show that more millennials aged between 25 to 40 years prefer to invest in crypto than in mutual funds. 

The report, titled “How Millennials See Their Financial Future,” reveals that amost 40% of millennial respondents have invested in cryptocurrencies. According to the report, this is “greater than the percentage of millennials who own mutual funds.” The percentage is almost equivalent to those millennials who own stocks.

Besides that the report also noted that most millennials either already own crypto or are in consideration to buy. However, Alto founder and CEO Eric Satz said that the current conditions make it hard for them to consider investing. He explained:

“In a world of conspicuous consumption, soaring living costs, and mounting student loan debt, millennials find it difficult to invest for the future because they are struggling to afford the present.”

The survey participants who are currently holding crypto said that they are likely to add cryptocurrencies to their retirement portfolio. According to the report, 70% of millennials who own crypto and have an individual retirement account hold their digital assets in their IRA.

Another survey in June, showed that high-net-worth individuals are also embracing crypto. “World Wealth Report,” shared that 71% of wealthy participants have invested in digital assets such as crypto, exchange-traded funds and nonfungible tokens (NFTs). 

In the same month, a report released by research firm Blockware Intelligence showed that Bitcoin (BTC) adoption might overtake the adoption rate of other technological disruptions such as smartphones, the internet and social media.

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