39% of US millennials own cryptocurrency, survey shows

What 

Almost 40% of millennials in the US surveyed in the latest Alto Alternative Investing Report said they own cryptocurrency

Why 

Millennials continue to show an eagerness to invest in alternative assets, which includes crypto, saying that the ability to do so is a major motivating factor

What next 

This is greater than the percentage of millennials who own mutual funds and roughly the same percentage that own company stocks 

The story 

Alternative assets, or alts for short, are investments that fall outside of the traditional investment space, which includes stocks and bonds. The latest survey by alternative asset brokerage AltoIRA suggests that younger investors may be more inclined to invest in these types of assets, which includes cryptocurrencies, than their older counterparts. 

“Millennials in particular are paying attention to alternatives, with 85% expressing interest in learning more and 89% citing a likelihood of investing in alts,” the report noted. Of those who have invested in the stock market, 71% noted that their investment portfolio could be better diversified. 

One of the main reasons for their piqued interest is simply that they have open access to invest in these types of alternative assets. 

Digital investment platforms have paved the way for younger generations to have more control over their investment journey but it does come with dangers. Anyone, professionals and novices, can dish out investment advice on the internet which puts the onus on investors to verify the legitimacy of the person giving the advice and the advice given. 

As investors have more control over what they invest in, they also have the responsibility to do their own research before investing.

Check out the Luno learning platform to learn more about responsible investing.