60% of Americans think investing in crypto is very risky (survey)

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CNBC’s “Your Money Survey” estimated that 60% of US participants consider the risk of investing in cryptocurrencies to be high.

Only 5% of respondents believe it is completely safe to allocate some wealth to the asset class.

Crypto seems riskier for Americans

The decline in the cryptocurrency market, along with various adverse events in the industry, has impacted the sentiment of many Americans. CNBC’s latest research found that 60% of US respondents think crypto investing is very risky, up from 45% in August 2021.

26% believe delving into bitcoin and alternative coins hides “moderate” risk, while only 5% consider it completely safe.

Cryptocurrency investors have also lost some of their confidence, with 60% saying there is a real risk of serious losses when dealing with the asset class.

10% of research participants revealed that they were HODLers. Millennials are the most active demographic, with 15% holding crypto. Gen Z and Gen X follow closely at 12% each.

Young people are diversifying with crypto

Bank of America (BoA) also conducted a survey which showed that 75% of US residents between the ages of 21 and 42 believe it is impossible to achieve above average returns by relying solely on traditional finance. . According to them, diversification with alternative assets, such as cryptocurrencies, real estate, private equity and commodities, could generate better future profits.

Another CNBC survey from 2021 found that millennial millionaires have invested at least 25% of their funds in digital assets.

When bitcoin reached its all-time high in November 2021, young Americans were even willing to receive part of their salaries in crypto instead of fiat currencies. Gen Z (those under 23) were the most supportive, with 50% wanting this option.

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