A new survey found that more than one in ten Americans between the ages of 18 and 34 invested some of their COVID19 stimulus controls in crypto assets. The survey, conducted by CNBC and research firm Momentive, polled 5,530 adults and found that 11% of respondents invested their total stimulus money in investments, with 15% seeking exposure to stocks, 9% investing in mutual funds, and 6% in exchange traded Funds (ETFs).
Most young Americans seem optimistic about the future outlook for cryptocurrencies, with 60% of respondents saying they view digital assets as a long-term investment. Young Americans' appetite for cryptocurrencies appears to be growing. A Harris poll conducted in March found that only 7.5% of respondents had invested, and the 2020 Momentive Poll also saw a surge in investment interest among Millennials and Gen Zers, finding that the majority of young Americans were using mobile trading Apps to invest while social media is their dominant source of market analysis. Related: 98% of CFOs Say Their Hedge Funds Will Have Invested in Bitcoin by 2026:
Those who had enough play in the past year to invest their first stimulus check in crypto will reap huge rewards, according to Bitcoin Stimulus, citizens who all on the 15th with more than $ 8,600 would be a 620% profit. Young cryptocurrency investors in Australia are also making significant profits from their cryptocurrency investments. Generation X has reported that it has benefited from tens of thousands of dollars from cryptocurrency investments over the past 12 months.