Charles Schwab, a major asset manager based in the United States has recently carried out a survey. The survey was carried out in the month of October to know what the future holds for the crypto industry.
The results shared by Charles Schwab for the particular survey are reassuring to the entire crypto-verse, confirming its long-term future.
Crypto to make it to 401(k) Retirement Plans
According to the latest survey results by the asset manager, many people want 401(k) retirement plans to include cryptocurrencies.
It has been revealed through the survey that the Millennials and Gen Z are eager to have crypto added to their retirement plans.
A rough estimate suggests that nearly half of the Millennials and the Genz participants want to have crypto in the particular plan.
Exact Percentage of Crypto Supporters
The survey carried out by Charles Schwab asked the participants what product they would like to be added to their 401(k) retirement plans.
It was quite surprising to see that 45% of the Millennials and 46% of the Gen Z participants went in favor of cryptocurrencies.
They stated that they wish that they get the chance to invest in cryptocurrencies as they gain access to their retirement plan.
A Vast Majority is Invested in Crypto
It should not come as a surprise about the crypto adoption when it comes to the Millennials and the Gen Z. This is because both groups are already very much invested in cryptocurrencies.
Even when they do not have access to 401(k) retirement plans or are too far from that, they have invested in cryptocurrencies.
The survey has made it obvious that the cryptocurrency industry has a future. As the Millennials and Gen Z grow old, they would continue investing in cryptocurrencies.
The younger generations would be adopting cryptocurrencies following their elder and this would ensure the future of cryptocurrencies.
Charles Schwab has announced that they carried out the survey among a total of 1,100 participants. All these participants had taken part in the 401(k) retirement plan.
The participants were between the age of 21 and 70 and the survey conducted would take up to 10-minutes to complete.
Another unique criterion for the survey was that the people being surveyed would have worked in companies with at least 25 or more employees.
Most importantly, the participants must be enrolled in the 401(k) retirement plans of their companies.
The term “Millennials” is for people born between the early 1980s and mid-1990s. Gen Z represents people born between the late 1990s and early 2010s.
Then comes Gen X and Boomers who also participated in the survey. The report shows that 31% of Gen X want to invest in cryptocurrencies while 11% of the Boomers want to invest in cryptocurrencies.