An hopeful image of the general acceptance of cryptocurrencies is presented by a poll performed by the international crypto investment platform Mudrex. According to a paper named “Investment Trends in FY 2023-24: The Indian Crypto Renaissance,” half of the survey participants anticipated cryptocurrencies to become a common asset class in the next five years.
According to Edul Patel, CEO of Mudrex, a global platform for cryptocurrency investments, “this surge is indicative of evolving investment preferences and changing attitudes toward digital assets.” The survey’s findings, he continued, points to a wider change in the financial scene and how various investment groups view cryptocurrencies as a component of their portfolios.
There were 8,976 respondents nationwide to the Mudrex survey, which examined the problems and investment behaviors of cryptocurrency, which was conducted between June 2023 and January 2024.
When it comes to investing, younger people are more daring and more experienced.
GenZ and investing
Aged between 20 and 35, young adults made up more than 80% of the participants, according to the poll. The survey indicated that younger Gen Z members had an increasing interest in investing in cryptocurrencies.
The survey also clarified the role of social media in financial decision-making, showing that millennials (8%), Gen Z (9%), and baby boomers (1%), were more likely than Gen X and Gen Xers (3%), to consult social media first when they had financial questions.
This pattern emphasises how younger generations look for information and make financial decisions in diverse ways. Also, these younger investors have a generally positive opinion of their ability to manage their funds; many even express a “somewhat proud” emotion in this regard.
This pattern indicates that wealth is being held and handled differently across generations, which may be a reflection of younger people’s propensity for taking risks or of the particular financial difficulties they encounter, like the housing crisis.
