Millennials see crypto as recession beater

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eToro, a multi-asset investment platform and social network, has published a survey on generational investment conducted from July 18 to July 31 among 1,000 online investors in the USA, Cointelegraph reports. Its findings show that 40% of millennials would prefer to invest in crypto assets in the event of a recession.

The survey also revealed that two-thirds of US-based investors are afraid of a recession, and would consider converting part of their stock portfolios into safer investments, or hedge with crypto assets, commodities or real estate.

Interestingly, while 40% of millennials would choose crypto assets as an investment, the younger Gen Z folks would prefer to put their money into real estate, while the older Gen X people are fonder of commodities as investments.

Guy Hirsch, managing director of eToro U.S., said: “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.”

The study also suggested that a recession would spark more interest in fractional ownership, with 92% of those most concerned about a recession saying they would own fractions of famous artworks, landmark buildings and private startups, among other types of investments. And 55% said that they would sell a portion of their stock portfolio to fund their investment in fractional ownership of these new types of assets.

Another survey by Huru India showed that high net-worth individuals in India are more likely to invest in bitcoin than other cryptocurrencies. Digital currencies were the fourth most preferred asset overall in this study, although it also revealed that almost half of the respondents didn’t know what cryptocurrencies were.

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