Millennials Are Throwing More Money Into Crypto

Despite all that’s happened over the past 12 months, millennials see value in crypto. In fact, they’re betting big on digital assets and relying on them to comprise their retirement portfolios. Millennials Are Still Big Crypto Fans This is good in that millennials clearly understand the value of the crypto space. They see the arena […]

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Despite all that’s happened over the past 12 months, millennials see value in crypto. In fact, they’re betting big on digital assets and relying on them to comprise their retirement portfolios.

Millennials Are Still Big Crypto Fans

This is good in that millennials clearly understand the value of the crypto space. They see the arena as something big that could potentially bring them many rewards in the future, but several financial analysts are telling said millennials not to go crazy. They say crypto is still a largely unregulated industry, and that betting too big on it could result in heavy losses and similar problems.

Clark Hodges – co-owner of Hodges Capital Management – said in an interview:

No, no, no. As I sit here and contemplate millennials considering cryptocurrencies as the base for their retirement plans, it really does concern me for their futures.

It’s not so much that he’s against crypto; he’s against placing too much money on any high-risk asset. He continued his discussion with:

A risky asset should be a small part of a retirement strategy, not the full strategy. Cryptocurrencies are assets that are still very new and unregulated, which increases their risk. What will the landscape look like after the government gets in and has its effect on the cryptocurrency market? I would not want to own cryptocurrency in a major way when that is unfolding right before our very eyes. Traditional stocks and bonds and real estate assets as a long-term retirement strategy are still the most proven way to grow wealth over time. Do what has worked for decades. Buy good quality American companies with good quality earnings that go up in value because the companies make more money year in and year out.

Matthew Robbs – founder of Smart Saving Advice – says it’s quite easy to invest in crypto when it’s doing well, and he doesn’t think giving up on it completely is something any smart investor should do. He commented:

Crypto is exciting to invest in. If you pick the right coin at the right time, you can get five, ten, or 100 times your investment in a matter of a few months or years… In the last two years, bitcoin went from $10,000 to $55,000 in five months and then went from $55,000 to $33,000 in four months. Bitcoin then went up to $69,000 before plummeting to $17,000 over a seven-month period.

Slow and Steady Wins the Race

He says throwing a bunch of money into the industry at once might be a mistake. He instead says slow and steady contributions to one’s crypto portfolio over time is the right way to go:

Investing all your retirement income into crypto only to have it drop 75 percent over a seven-month period will likely cause you to give up on it right before it starts to make another run-up.

The post Millennials Are Throwing More Money Into Crypto appeared first on Live Bitcoin News.

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