Charles Schwab, an American multinational financial services company, claims that at least a quarter (25%) of American workers invest in cryptocurrencies.
A recent study published by Charles Schwab has revealed the growing interest in cryptocurrencies as investment assets among American workers.
The study, titled “2022 401(k) Participant Study – Gen Z/Millennial”, shows that Cryptocurrencies are the fifth most popular investment asset among workers of the Gen X, Millennials, and Gen Z generational groups, outside of 401(k) retirement plans.
Currently, 25% of workers are investing in cryptocurrencies as an alternative way to save outside of their pensions.
Source: Charles Schwab
The generational group that has invested the most in cryptocurrencies is Millennials, with 47% participation and investment in the crypto market, according to data published by the multinational financial services company. Millennials are followed by Gen Z, with 43% and Gen X, with 33%.
Workers call for exposure to cryptocurrencies through 401(k) plans
It is worth noting that a significant portion of workers, especially younger ones, have also said they would like to have a broader range of investments within their 401(k) retirement plans.
In this regard, the study carried out by Charles Schwab states that 32% of workers expect to have access to cryptocurrencies through their pensions, with cryptoassets being the second most requested option today.
Source: Charles Schwab
Charles Schwab conducted its study by surveying 1.000 workers who participated in 401(k) retirement plans, ranging in age from 21 to 70. In addition, to analyze the investment preferences of the Gen Z generational group, the financial services company included another 100 workers who participated in 401(k) plans, between the ages of 21 and 25.
The study was conducted online during the second quarter of this year.
Cryptocurrencies in 401(k) plans
Asset management company Fidelity Investments has revealed its intention to integrate cryptocurrencies into employee retirement plans this year.
The first company to report that it would adopt Fidelity's new services for Offer your employees exposure to cryptocurrencies It was MicroStrategy, the largest institutional investor in Bitcoin. Michael Saylor, former CEO and current executive chairman of MicroStrategy, announced during his tenure that the company would partner with Fidelity Investments to become the first publicly traded company to offer its employees the option to invest in bitcoin through their retirement plans.
On the other hand, Miami Mayor Francis Suarez stated in December 2021 that he plans to receive all of his retirement funds in bitcoins.
Continue reading: Cryptocurrencies are the preferred alternative investment for US Millennials
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
