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Younger generation making huge money, driving crypo – Report

Millennials are driving cryptocurrencies investment globally. A report by Cryptovantage revealed that Cryptocurrencies make up 12 per cent of millennials investment portfolio.

The report also said that three in four crypto investors have made money on their crypto holdings in 2021. According to the report, digital currencies have seen significant gains in 2021 jumping 154 per cent in value since January 1.

The report said, “Crypto-assets represented 12 per cent of the average millennial portfolio, compared to 9.2 per cent of the average xennial portfolio and only 6.3 per cent of the average Gen Xer portfolio.

It’s worth noting that 3 in 4 people profited off cryptocurrency investments overall. Each generation showed an affinity for different coins, too. While Bitcoin was the most popular coin across all generations, millennials and Gen Xers’ favorite altcoin (coin other than Bitcoin) was Ethereum.”

According to the report, the most common reason people start investing in cryptocurrencies across all generations was curiosity.

The second most common reason was a belief that it would lead to higher returns.

However, millennials were the least likely to attribute their start in crypto investing to this belief.

The report said, “Crypto-assets represented 12 per cent of the average millennial portfolio, compared to 9.2 per cent of the average xennial portfolio and only 6.3 per cent of the average Gen Xer portfolio.

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