Millennials Embrace Crypto as Key Investment Strategy, Says Charles Schwab

Cryptocurrencies continue to gain popularity, especially among younger investors.

According to the Charles Schwab survey, 62% of millennial investors plan to add digital assets to their portfolios in the next year.

Cryptocurrencies have become the second most popular asset class for all investors surveyed, with interest higher among millennials (62%) compared to Gen Xers (44%) and boomers (15%).

The survey, conducted in July 2024 with 2,200 participants, revealed that millennials prefer alternative assets such as cryptos, second only to U.S. equities. Additionally, 39% of that group are considering crypto ETFs, reflecting their penchant for high-risk, high-return strategies, compared to Gen Xers (24%) and Boomers (11%).

Speculation aside, nearly half of millennial investors seek to align their investments with their personal beliefs and values. They also have a strong interest in diversifying their portfolios, with 45% focusing on real assets such as commodities and infrastructure and 47% on bonds.

Millennials also express cautious optimism, with 66% confident they will outperform the market but cautious about economic downturns. Despite the volatility of the crypto market, nearly 40% remain optimistic about digital assets, viewing them as essential for both diversification and personalization.

As financial institutions innovate with blockchain and crypto-based products, younger investors are expected to continue integrating digital assets into their portfolios, signaling a lasting shift in investment trends.