According to a survey performed by the investment firm Capitalize, Bitcoin and cryptocurrencies are becoming more popular as retirement investing possibilities. Digital assets, once associated with speculation and gambling, have gained prominence as one of the finest ways to secure people’s futures.
In the United States, the firm questioned 821 employees and 203 financial specialists. Their goal was to investigate the emotion surrounding the addition of Bitcoin and cryptocurrencies to retirement portfolios, as well as to find the optimal moment to purchase these digital assets.
In this regard, the survey revealed that people’s attitudes towards cryptocurrencies have improved over the last ten years. Despite their volatility, more than 60% of respondents say these digital assets are “a strong retirement investing alternative.”
As seen in the graph below, younger generations are more hopeful about Bitcoin and cryptocurrencies as retirement investing possibilities. 78.2 percent of “Gen Z” respondents and 60.4 percent of “Millennials” are bullish on digital assets, compared to 50.3 percent of “Baby Boomers.”
Nonetheless, the majority of respondents (57%) saw cryptocurrency as a “volatile investment instrument” with risk (45 percent ). Respondents also link digital assets with potential (54.4 percent), overhyped (45.3 percent), and utility (37.4 percent) investment, as shown below.
Furthermore, according to the survey, Bitcoin and other cryptocurrencies dominate the investment retirement industry, with 76.5 percent of respondents indicating that they are part of their portfolio. Non-fungible tokens (NFTs) and Dogecoin (DOGE)/memecoins, on the other hand, are gaining traction, with 35.8 percent and 19.3 percent of respondents, respectively, stating they will hold it till retirement. Capitalize has been added:
(…) The majority of survey respondents who invested in digital assets did so for the long run. More over three-quarters said they bought cryptocurrency to hold until retirement.
According to additional Capitalize data, 3 in 5 respondents feel Bitcoin and cryptocurrencies should be included in employer-sponsored retirement plans. As a result, crypto aficionados may be drawn to a corporation.
Employees with crypto assets may be among the most hopeful since they plan to retire 8 to 13 years earlier than those with no crypto exposure. NFT holders believe they will retire at the age of 52, whereas memecoin holders believe they will retire at the age of 54, and Bitcoin holders believe they will retire at the age of 57, compared to non-crypto investors who believe they will retire at the age of 65.5.
It will be interesting to examine these findings in a few years, but so far, they indicate that crypto investors are more enthusiastic and confident about their investment retirement vehicles.
When it comes to the survey’s send portion, which was done with 203 financial professionals, the results differ in some areas. While 52.5 percent of these experts say Bitcoin and cryptocurrencies are a good short-term investment, 46.5 percent believe they are a poor long-term investment.
In this regard, 64.4 percent of experts believe that people should not invest in cryptocurrencies as a means of retirement. In contrast, with 87.1 percent, 401(k) or 403(b) plans remain the most popular retirement options among these respondents.