A recent report has revealed that cryptocurrency has become a mainstream retirement alternative for many Americans, with 48% of Americans adding crypto in their retirement savings. A joint study by CryptoNinjas and Storible has presented how Americans are incorporating crypto for their retirement savings.
Crypto for Retirement
At present, 48% of Americans have incorporated crypto into their retirement portfolios. This trend is especially visible among younger generations. Gen Z leads the charge, with over half already investing retirement funds in crypto, followed closely by Millennials.
Moreover, the appetite for digital assets is only increasing. 60 percent of respondents said they plan to strengthen their crypto allocations in their retirement savings. Notably, two-thirds of Gen Z investors are planning to expand their crypto investments, which shows a growing belief in the long-term value of cryptocurrencies.
Fidelity’s Crypto IRA Becomes a Norm
Fidelity’s crypto-focused Individual Retirement Account (IRA) is drawing major interest, with 62% of respondents expressing plans to invest through it, and among Gen Z, 76% feel the same.
A significant portion of Americans are making serious commitments to crypto i.e., 44% say they allocate between 10% and 20% of their retirement savings to digital assets. Gen Z are also leading the fray, with nearly 60% making significant allocations, meanwhile, millennials showed similar levels of trust in crypto’s long-term value.
Crypto Outranks Stocks for Some Investors
Another striking finding is that nearly 21% of Americans now invest more of their retirement savings in crypto than in traditional stocks and for Gen Z, it is 30%.
Gen Z is clearly at the forefront of the crypto retirement movement , with 58% including crypto in their retirement plans, 67% planning to increase their crypto allocations, 76% are interested in Fidelity’s crypto IRA and 30% invest more in crypto than in stocks.
Also Read: Binance’s CZ Meets Malaysia’s PM to Discuss Blockchain Innovation and Crypto Strategy
