Crypto Gains Favor Among Wealthy Youth, Surpassing Traditional Investments: Bank of America Study
A recent Bank of America report reveals that younger affluent individuals are favoring cryptocurrencies and alternative investments over traditional stocks and bonds.
The “2024 Bank of America Private Bank Study of Wealthy Americans” indicates that younger investors, aged 21 to 43, are significantly more likely to include crypto in their portfolios compared to older generations. This group believes that traditional equities alone no longer yield above-average returns, prompting a shift toward diversified portfolios with a higher allocation to crypto and alternative assets.
Interestingly, even the most conservative young investors hold substantial crypto assets, reflecting a broader shift in risk tolerance and investment strategies influenced by past market crashes and social media trends.
Clever Robot News Desk 20th June 2024
