Data shows that millennials in the U.S. are flocking to alternative funding methods, such as crypto assets, to improve their financial well-being.
A report by Morning Consult in January titled “The State of Consumer Banking and Payments” found that millennials are adopting new technology to help them make financial decisions at a higher rate than any other generation.
The report’s author, financial services analyst Charlotte Principato, combined data from 50,000 different respondents with monthly surveys conducted in the U.S. and globally from July to December 2021. Principato said the increase in cryptocurrency use in 2021 was an outlier in the statistics she suddenly found while writing the report.