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JUST IN: A new report from the CFA Institute shows that young, high net worth investors are entering the cryptocurrency market at a much faster rate than older generations.
Behind this preference lies a troubling factor a significant portion of Gen Z and millennial millionaires admit to investing out of FOMO fear of missing out, amidst high volatility in Bitcoin, the rise of social media as a source of income, and growing doubts about the financial literacy of younger generations.
According to the CFA Institute, 48% of young, affluent investors and 50% of Gen Z and millennial millionaires report holding cryptocurrencies.