25% of ‘affluent’ millennials hold cryptocurrency

A full quarter of affluent American millennials are using or holding cryptocurrency. That’s among the findings in the Millennials with Money report from Edelman.

The survey defines affluent millennials as aged 24-38, making $100,000 in individual or joint income, or having $50,000 in investable assets.

An additional 31% are interested in using cryptocurrency.

The numbers surprised Deidre Campbell, Edelman’s Global Chair of Financial Services. But, she adds, it’s not a shocking figure to the millennials she speaks with.

“Anyone that has crypto tells me they wish they bought it sooner,” she says.

Millennials also prefer cash more than other generations. Campbell says that the strong habit of saving makes millennials comfortable with risks associated with crypto. It should be noted that it’s been a brutal year for cryptocurrencies: after a huge run-up in 2017, so far this year bitcoin is down 54%, while other coins like ether and litecoin have dropped further.

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