Clovr research shows millennial males with money are most positive about crypto
Clovr, a blockchain-focused research company has revealed the results of a recent study into cryptocurrency sentiment in the U.S. market. The survey collected responses from over 1,000 Americans between ages 18 and 80.
It shows what many may have suspected all along: cryptocurrency investing is most popular with millennial males earning from $75,000 to $99,999 annually. Men in this generation are twice as likely as any others to invest in digital assets: 43% of men compared with only 23% of women.
Also, high earners are more likely to get involved: some 47 percent of individuals with an annual income of not less than $75,000 per annum have invested in cryptocurrencies, while less than 25% of those earning under $25,000 said they could afford to significantly invest in crypto. One also needs to bear in mind that the average salary for Americans in the millennial age group of 25–34 is $857 per week, or $44,000 annually when assessing the survey results.
Why do they buy crypto?
The reasons the respondents gave for investing in cryptocurrency are also significant: around 40% said they were influenced by friends or peers, while some 35% said they had invested due to Fear of Missing Out (FOMO).
Awareness of digital assets appears to be high, with over 75% saying they ‘feel’ they know what cryptocurrency is and how it functions, while the remaining 20 percent said they “sort of” know what is happening in the crypto market. A sizeable 62% reported that they felt confident in explaining what digital assets are to other people and competently engage in a conversation about cryptocurrencies.
When asked their opinion on investment in crypto, almost 80 percent of respondents answered that they consider investing in crypto as a positive form of risk-taking. The study further states that 1 in 3 think that crypto investment is an innovative option compared with stocks and bonds.
This is not the first survey to show that the millennial generation is the one most involved with crypto; a YouGov survey revealed that at least 50% of this generation are interested in it, making millennials the target audience for marketing campaigns.