Jun 20, 2024 - Economy

Charted: Young investors really like crypto

Brady Dale

Stacked bar chart showing the average portfolio allocations by self-identified investment risk level, amongst select U.S. adults. Data is from a Bank of America survey of 1,007 U.S. adults with at least $3 million in investable assets taken January through February 2024. Overall, people age 21 to 43 invested less into stocks and bonds and more into cash and crypto than those 44 and older, regardless of self-identified risk level. U.S. adults ages 21 to 43 who identify with the "conservative" investment risk level invest slightly more into crypto than those who identify with the "moderate" and "aggressive" levels. For U.S. adults 44 and older it is the opposite, with 2% of those who identify as "aggressive" investing in crypto, but about 1% of the other two groups. — Note: Other includes non-stock, alts and bond investments; Data: Bank of America; Chart: Tory Lysik/Axios Visuals

Younger investors like cryptocurrency a lot more than older investors.

That might come as no surprise, but it's eye-opening to see how much they do like it.

The fine print: This is from a Bank of America survey conducted in January and February of 1,007 U.S. adults with at least $3 million in investable assets — not exactly your average man on the street.

Why it matters: This difference might help explain Trump's conversion to crypto as an election topic.

First, it appeals to people with deep pockets, which can help him out of his fundraising disadvantage.
Second, it might be a topic that gets some voters who are marginal about showing up to the polls to get out and vote for him.
It's got that pocketbook angle for some younger voters.

The big picture: Biden is thought to have the advantage with older voters.

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Charted: Young investors really like crypto

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