With institutional crypto investments and millennials turning millionaires becoming familiar headlines, 2022 has proven to be the yr of crypto adoption.

A new CNBC survey has revealed that a majority of millennial millionaires have invested a pregnant chunk of their portfolio in crypto and programme to continue their crypto investments in 2022. The survey polled investors with assets of $one million or more than, and 83% of the polled millennial millionaires revealed they had fabricated crypto investments.

Over half — 53% — of the survey'south respondents said they hold 50% or more of their portfolio in crypto. Nearly one-third of the respondents have invested at least three-quarters of their wealth in crypto assets. While the poll results might come as a surprise to many, those who take been following the crypto smash in 2022 would know how a generation of TikTok investors made millions of dollars on investments in meme currencies.

The CNBC survey also revealed a massive generational gap in terms of investment. On one side, millennials are investing as high as fifty% of their wealth in crypto, while on the other side, but 4% of the older generation accept invested in digital assets and only 1-fourth of the GenX owns crypto.

George Walper, president of Spectrem Group, which conducted the survey for CNBC, said the new generation'south rising interest in the nascent crypto marketplace could prove to be an issue for wealth managers. He believes these traditional managers would have to rethink their approach towards these upcoming investors. He explained:

"I'one thousand not sure the wealth management industry has recognized that they need to call back of these equally completely different generations. Most firms were hoping to ignore it. Merely millennial millionaires are not going to merely grow out of crypto."

The survey likewise highlighted how the new generation is willing to take more risks with crypto rather than investing in traditional markets. The survey revealed that 48% of millennial millionaires plan to add to their crypto investments while 38% plan to agree and just half-dozen% programme to reduce their crypto exposure in the coming year.

Autonomously from a surge in crypto millennial millionaires in the Us, Commonwealth of australia has also seen a 10% growth in crypto adoption over the past twelvemonth. The 2022 Contained Reserve's Cryptocurrency Alphabetize (IRCI) that surveyed 2000 people found the crypto investment amongst Australians has grown to 28.viii%, up from 18.4% in 2022.