According to new information from eToro, 40% of millennials would look into cryptocurrencies as an investment during a recession.
This news comes via a press release, with the survey having been conducted from July 18 to July 31 speaking to 1,000 online investors within the United States. These age groups were anywhere from 20 to 65, gathering up Gen Z, Gen X, and millennials opinions.
It also found that around two-thirds of the recipients would hedge with cryptocurrencies and digital assets in general.
While 40% of millennials would invest in cryptoassets during a recession, 50% of Gen Z surveyors would actually pick real estate. Then, the Gen X age group said 38% of them would move into commodities.
In the press release, one Guy Hirsch, the CEO of eToro U.S., stated:
“We believe that if a recession were to occur, we’d see shrinking stock portfolios and growth in other asset classes like crypto, as well as new fractional ownership models. Historically, these investment opportunities have been limited to high net worth and institutional investors, but innovation is unlocking these opportunities for everyday investors and clearly, these results indicate that the demand is there.”
He may be right, as cryptocurrency trading is one investment vehicle that isn’t covered by the United States government – at least not yet.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.