{"id":243,"date":"2022-10-16T04:15:51","date_gmt":"2022-10-16T04:15:51","guid":{"rendered":"http:\/\/live-script.xyz\/bank-of-americas-survey-of-wealthy-americans-younger-people-are-7-5-times-more-likely-to-hold-crypto-in-their-portfolios\/"},"modified":"2022-10-16T04:15:51","modified_gmt":"2022-10-16T04:15:51","slug":"bank-of-americas-survey-of-wealthy-americans-younger-people-are-7-5-times-more-likely-to-hold-crypto-in-their-portfolios","status":"publish","type":"post","link":"https:\/\/live-script.xyz\/bank-of-americas-survey-of-wealthy-americans-younger-people-are-7-5-times-more-likely-to-hold-crypto-in-their-portfolios\/","title":{"rendered":"Bank of America\u2019s Survey of Wealthy Americans: Younger People Are 7.5 Times More Likely to Hold Crypto in Their Portfolios"},"content":{"rendered":"<p><strong>Bank of America has found that younger wealthy Americans are 7.5 times more likely to hold crypto in their portfolios than investors aged 43 and older. \u201cIf the youngest cohort isn\u2019t confident in stocks, where do they see opportunities for investment growth? Alternatives, including cryptocurrencies, which are their No. 1 choice,\u201d the bank wrote.<\/strong><\/p>\n<h2>Young Wealthy Americans Prefer Cryptocurrencies to Stocks<\/h2>\n<p>Bank of America released its 2022 Private Bank Study of Wealthy Americans this week. The report highlights the results of an online survey, conducted from May to June, of 1,052 people who were over the age of 21 with household investable assets of more than $3 million. The bank noted that the respondents are a nationally representative sample of the U.S. high-net-worth population and not necessarily clients of Bank of America.<\/p>\n<p>\u201cConventional investment advice suggests that younger investors hold more stocks, not fewer, than older investors. Yet the 21 to 42 age group holds just a quarter of their portfolio in stocks, compared with 55% of investors aged 43 and older,\u201d the report details, noting:<\/p>\n<p>If the youngest cohort isn\u2019t confident in stocks, where do they see opportunities for investment growth? Alternatives, including cryptocurrencies, which are their No. 1 choice.<\/p>\n<p>\u201cWhile 29% of younger people said crypto presents a leading opportunity to create wealth, only 7% of the older group agreed. The younger group is generally<br \/>\nmore interested in private equity or debt, as well as sustainable or environmental, social and governance (ESG)-related investments,\u201d the report adds.<\/p>\n<p>Bank of America emphasized that age is \u201cthe dominant factor when it comes to interest in cryptocurrencies,\u201d elaborating:<\/p>\n<p>While overall usage is low, younger people are 7.5 times more likely to hold crypto in their portfolios and five times more likely to say they understand it quite well.<\/p>\n<p>Furthermore, the survey found that \u201cHalf of the younger group said they turn to social media for guidance on crypto, compared with 30% of the older group.\u201d<\/p>\n<p><em><strong>What do you think about the findings by Bank of America? Let us know in the comments section below.<\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Bank of America has found that younger wealthy Americans are 7.5 times more likely to hold crypto in their portfolios than investors aged 43 and older. \u201cIf the youngest cohort isn\u2019t confident in stocks, where do they see opportunities for investment growth? Alternatives, including cryptocurrencies, which are their No. 1 choice,\u201d the bank wrote. Young [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank of America\u2019s Survey of Wealthy Americans: Younger People Are 7.5 Times More Likely to Hold Crypto in Their Portfolios - Latest Cryptocurrency &amp; blockchain News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/live-script.xyz\/bank-of-americas-survey-of-wealthy-americans-younger-people-are-7-5-times-more-likely-to-hold-crypto-in-their-portfolios\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of America\u2019s Survey of Wealthy Americans: Younger People Are 7.5 Times More Likely to Hold Crypto in Their Portfolios - Latest Cryptocurrency &amp; blockchain News\" \/>\n<meta property=\"og:description\" content=\"Bank of America has found that younger wealthy Americans are 7.5 times more likely to hold crypto in their portfolios than investors aged 43 and older. \u201cIf the youngest cohort isn\u2019t confident in stocks, where do they see opportunities for investment growth? Alternatives, including cryptocurrencies, which are their No. 1 choice,\u201d the bank wrote. 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