(CNBC) A CNBC survey has found that about 83% of millionaires in the millennial generation own crypto, with 53% of them allocating at least half of their wealth in digital assets.
About a third of millennial millionaires have 75% of their wealth invested in cryptocurrencies.
The survey finds that 48% of millennial millionaires want to allocate more into crypto next year, with just 6% preferring to cut their holdings.
The millennials, who cite inflation as the key concern, say they are also concerned about the US government disfunction. Still, 59% of millennials have confidence the Fed will tackle the inflation problem.
Compared to the rest of the population, who fear inflation based on purchasing power, the millennials are worried about rising interest rates and their impact on their investments.
The high preference for cryptocurrencies among millennial millionaires represents a significant generational divide, with earlier generations that include the Baby Boomers only having an average of 10% in digital assets.
BTCUSD is down -0.96%, ETHUSD is down -2.96%.
