More Than 80% of Millennial Millionaires Own Crypto

Written By Simon Mwebaze

FOMO (Fear Of Missing Out) is a popular term with Generation Z for a good reason.

While the world was skeptical about the blockchain, millennials saw an opportunity – a million dollar-making opportunity. Instead of FOMO’ing, many bought in and became millionaires.

Millennial millionaires have taken blockchain by the horns. According to the CNBC Millionaire Survey, more than 50% of millionaire millennials have half of their holdings in crypto; and more than 80% of millennial millionaires own Bitcoin and other cryptocurrencies.

You must be wondering how these millennials acquired their wealth to invest in crypto, right? There are two ways. Some made their millions through crypto, and others through inheritance (about 45%), or startups.

But, not everything is sunshine and roses in crypto investment. There is another side to this. Other generations — Baby Boomers and Generation X — are not as excited about crypto. Only 4% of Boomers own cryptocurrency, and more than 75% of Gen X investors have not put a single dime into cryptocurrencies. Different generations seem to have different approaches to accumulating wealth.

But that will not stop millennials and their FOMO. It is projected that 48% of millennials plan to make more Bitcoin and cryptocurrency investments in the future.

More millions to be made? We will keep our eyes peeled.

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