Could This Trend Thaw the Crypto Winter?
It's simple and straightforward: Cryptocurrencies are growing in popularity. The proof is in the numbers. A recent study conducted by Bank of America (NYSE: BAC) shows that more and more young investors are driving growth of the new asset class.
The published report observed 1,000 individuals with a net worth of at least $3 million and aimed a better understanding of the current investing approaches between different age cohorts. Participants were split into two age groups; those aged 21 to 42, and those 43 and older. And you can probably guess that among that younger demographic, traditional investing practices are being challenged.
Before we get into the study, we should make a disclaimer. Clearly a net worth of $3 million isn't the norm. However, following the behaviors of wealthier investors can provide insight on what assets are growing in demand. As more capital flows into an asset class, the less speculative it gradually becomes and subsequently becomes more mainstream for all investors.
Source Fool.com
