Study: 40% of millennials invest in cryptocurrencies in the event of a recession

Two-thirds of American investors fear a looming recession and are ready to transfer their assets to safer funds, including cryptocurrency. This is evidenced by a survey conducted by the eToro social investment platform.

Respondents believe that the trade conflict between the US and China, as well as problems with Mexico, will affect their portfolios over the next six months. In this regard, investors began to look for ways to hedge risks.

It is noteworthy that 40% of millennials (i.e. those born in the period 1980-1994) preferred cryptocurrencies.

Representatives of “Generation X” born between 1965 and 1979 would send money to goods, and every second respondent of “Generation Z” (from 1995 and later) chose to invest in real estate.

“Due to the volatility of markets and growing geopolitical tensions, investors in all demographic groups seek to expand their portfolios with new-class assets. In the event of a recession, we will see a decline in equity investments and growth in other asset classes, such as cryptocurrencies, ”said Guy Hirsch, Executive Director of eToro in the USA.

In total, more than a thousand investors took part in the company's survey.

Recall that against the backdrop of the trade conflict between the United States and China, Bitcoin has more than once been called a hedge against global risks. Some analysts believe that as the trade war escalates, the price of the first cryptocurrency will only increase.

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