Swiss Bank Survey Shows Young Investors Are Adding Crypto Assets To Their Portfolios
- An increasing number of Swiss investors are getting into cryptocurrency, new study reports.
- Predictably, the large portion of investors are young, with older generations shying away from the new asset class.
In a new study published by market research institute, Intervista, for Swiss bank, Migros, an increasing amount of investors are looking to add cryptocurrencies to their portfolios. The study further finds that interest amongst the younger Swiss population (15-40 years) is on a spike as the older population reserves their investments for “less risky assets.”
The survey was carried out across Switzerland, capturing the views of 1500 participants. Of the sample, 7% of savers between the age of 18 and 55 years own a portion of cryptocurrency in their portfolio, showing an increasing interest in digital assets. Furthermore, 13% of respondents aged between 18 years and 29 years expect the impact of cryptocurrencies, mainly Bitcoin, to take up a significant portion of their portfolio in the future.
In addition, 7% of those aged 30 to 55 years plan to continue to invest in cryptocurrencies in the future.
While the older population remains reserved on including “risky” digital assets in their portfolio, 7% of the respondents between ages 30-55 years said they will continue to invest in crypto in the long term. However, the older population aged above 55 years remains skeptical in the field, with only 1% of the respondents in this class stating they own crypto.
Furthermore, only 0.5% of the Swiss respondents believed in the long term growth of digital assets.
Switzerland blockchain and crypto adoption on a spike
The growth of cryptocurrencies has taken root in Switzerland, with the neutral country aiming to become the blockchain hub of Europe. The city of Zug, is heavily infested with blockchain and cryptocurrency companies adding to the vast network of merchants, retail shops and salons accepting Bitcoin as a form of payment.
Notwithstanding, the Swiss government is on the forefront in implementing a workable framework for decentralized technology regulations.