Report: "Full Quarter" of Affluent Millenials Hold Cryptocurrency, 75 Percent Believe Another Financial Crisis Due Soon

American public relations giant Edelman believes a "Full quarter" of millennials hold and transact using cryptocurrencies, as per recent research concluded in October 2018.Rising Interest in Cryptocurrencies.

According to the Millennials with Money report, the survey recorded responses from "Affluent" millennials - those with minimum annual pay of more than $100,000 and/or having $50,000 in invested assets.

The research noted 31 percent were interested in actively using cryptocurrencies for transactions, from the 25 percent of individuals vested in digital assets.

Campbell adds the millennial demographic "Have a hope" that blockchain and distributed ledger technologies will pave the path towards increased financial security and data ownership.

Interestingly, 75 percent of the surveyed professionals believe the financial system is due for another crisis soon, in comparison to just 58 percent of non-affluent millennials.

Edelman referred to a 2016 report by social media giant Facebook that stated only 8 percent of surveyed millennials trust traditional financial institutions for portfolio advice.

The report shows a drastic shift in the way millennials view cryptocurrencies and blockchain technology, compared to two years ago.

In 2016, a similar Edelman report found 82 percent of all millennials trusted banks with their investments.

In a further two years, Campbell believes the interest in cryptocurrencies will grow multifold, partly due to improving technologies and primarily due to the myriad of accessible investment platforms millennials can choose to invest in.

The report noted millennials choose to follow peer advice instead of professional guidance for investment purposes - which forms an area of concern considering the rising number of scams in the financial market.