Bank of America says young wealthy investors prefer crypto to stock

A noticeable shift in wealthy investors’ preferences for assets has been registered by the Bank of America which surveyed individuals across the country

According to Bank of America, while 41% of people who are aged 44 or older tend to invest in stocks, younger age groups tend to avoid this type of investment in general. Less than half (14%) of people younger than 44 actually invest in stocks.

Instead, young investors are interested in cryptocurrencies (28%) or real estate investments (31%), with the remainder not really clear on long-term investment. This, Bank of America says, is important because through 2045, there will be an $84 trillion intergenerational wealth transfer, and 42% of that will come from high net worth individuals.

The Bank of America provided  a detailed breakdown of how each age group saw the best course of action for their money. Those aged 44+ said that they preferred stocks first and foremost at 41%, followed by real estate for 32% of respondents in this age group.

With young people, those aged 21-43, the top priority for investment was real estate for 31% of them, followed by 28% who would much rather invest in crypto and digital assets, followed by 26% for private equity. Only 14% said that they would consider investing in US stocks a seriously negligible number, which could shape markets for years to come.

With retail investors not as keen to boost the stock capitalization of S&P500, companies might find themselves in a difficult position trying to raise capital from institutional investors which tend to be more unwieldly and more meddling than retail investors in general.

Yet, the fact that cryptocurrency is now that high on the list of preferred investment should also signal not just a generational shift, but also new business avenues to companies that seek to capitalize on these trends.

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Written by Barney


Barney is co-founder of When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.