Nearly half of millennial millionaires have at least 25% of their wealth in cryptocurrencies, as the crypto boom continues to create wealth for young, early adopters, according to the CNBC Millionaire Survey.
Some 47% of millennial millionaires surveyed have more than 25% of their wealth in cryptocurrencies, according to the survey of 750 investors with at least $1 million in investible assets. More than a third of millennial millionaires have at least half their wealth in crypto.
The results highlight a new generational divide in wealth creation from crypto, with younger investors who spotted the trend early on able to earn vast fortunes and grow their existing investments from the surge in the prices of bitcoin, ether and other digital currencies.
Older millionaires are far less likely to believe in or invest in crypto. Fully 83% of American millionaires have none of their wealth in crypto, and only 1 in 10 keeps more than 10% of their wealth in crypto assets, according to the survey. None of the baby boomer millionaires or older generations has more than 10% of their wealth in crypto.