Crypto: Nearly 50% of Gen Z and Millennials want it in their retirement funds

The ability of cryptos to offer higher returns than bank investments makes them attractive to more people. When the market was stable, more and more people took advantage of it to increase their income. Now, some want more and want to enjoy the fruits of digital assets in their retirement plans.

Crypto to boost the retirement plan!

In the United States, a study showed that nearly half of Gen Z and millennial workers would like to have crypto assets in their 401(k) retirement plans. Specifically, 46% of Gen Zers and 45% of Millennials said they would like to be able to invest in crypto as part of their retirement planning. Additionally, the survey showed that 43% of Gen Z and 47% of millennials are already investing in cryptos. This, apart from their retirement plans.

This emerges from a investigation of US asset manager Charles Schwab. To get these results, the company surveyed 1,100 participants. Participants work for companies with at least 25 employees and have a 401(k) retirement plan. Recall that millennials refer to people born between the early 1980s and mid-1990s. Generation Z, people born between the mid to late 1990s and early 2010s.

The announcement of the investigation on Twitter

These results contrast with a survey of millennial workers and boomers. These two groups include people born between the 1940s and the late 1970s. Respectively, 31% and 11% of these want to incorporate crypto into their retirement plans.

What efforts towards the introduction of digital assets in retirement plans?

In the United States, there is a large controversial on the question of the introduction of cryptos in retirement plans. The case has divided senators for several months. Some like Elisabeth Warren of Massachusetts believe that “It’s too risky to expose hard-earned money to casinos”.

But the lines are moving little by little. This year, asset manager Fidelity Investments launched a bitcoin (BTC) investment scheme for holders of 401(k) retirement plans. Bitcoin (BTC) can occupy up to 20% of the portfolio size. In Australia, Rest Super became, in November 2021, the first pension fund to offer a crypto allocation. Several initiatives are being developed here and there in the United States.

A retirement based on bitcoin (BTC)?

However, things can go wrong. A Quebec pension fund recently lost almost all of its $154.7 million, invested in the crypto lending platform, Celsius.

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