Nearly one-third of Millennials plan to rely on cryptocurrency more than savings for retirement. An Investopedia survey of 4,000 people found that 28% of Millennials say they’re planning to rely on their cryptocurrencies to support them in retirement. Additionally, more Millennials say they were planning to rely on this type of investment as opposed to relying on “mere” savings. YPulse’s Buying Into Crypto and NFTs trend research shows 31% of Millennials invest in crypto (while 35% invest in stocks), and 21% of Millennials who invest in crypto are doing so to save for retirement. One of young consumers’ main goals of investing in cryptocurrency is to build wealth for their future, and Gen Z and Millennials don’t think they can build wealth in the same ways their parents did (i.e. relying solely on stock market investments). (MarketWatch)
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