51% of Young British Investors Trading or Holding Crypto: Charles Schwab Survey
This is more than double the number of young investors, aged between 18 and 37, involved in stocks.
Young British investors are more interested in cryptocurrencies than they are in stocks, revealed a survey by U.S. financial group Charles Schwab.
The retail investing behemoth, which is also looking at the crypto market “closely” and awaiting regulatory clarity before they start offering crypto investment, surveyed investors aged between 18 and 37.
Its finding showed that 51% of these young investors have traded or held cryptocurrencies, double the number, 25% of those who are buying or owning equities.
Meanwhile, a mere 8% of investors over the age of 55 have traded cryptocurrencies.
Compared to Bitcoin’s 70% and Ether’s 205% returns YTD, which is after the recent 23%-26% pullback from all-time highs, S&P 500 surged 10.09%, gold -5.85%, and WTI 33.33% during the same period. The press release from Charles Schwab presenting the survey read,
“As more young people purchase speculative products, there is a fear that these investors are not diversifying their portfolios enough to mitigate risks in case cryptocurrency markets decline.”
The survey's findings revealed that seven out of ten young investors were uncertain about building protections against losses in the current financial environment.
Schwab conducted the survey earlier this year, between February and March 2021, among 1,000 UK investors holding at least one type of investment.