Crypto Becoming Popular in US to Fund Retirement

It seems that many people in the United States are turning to crypto to fund their retirement, although the recent market carnage is a stark reminder that this wild market is not for everyone. 

About 27% of Americans aged 18-60, or about 50 million people, have owned or traded cryptocurrency in the past six months, according to a survey published last week by crypto exchange KuCoin.

However, older people are still more committed to the younger asset class than the general population, according to a survey conducted at the end of March, with 28% of people aged 50 and over betting on money as part of an early retirement plan.

Their favorite investment in crypto was to see it as the future of finance, not to miss hot trends, but as a way to diversify their portfolio. Market turmoil over the past few weeks has silenced negotiations in early 2022 for Bitcoin and other cryptos to be accepted into the mainstream and introduced into retirement plans.

Nonetheless, crypto investors and analysts are watching like hawks for signs that Bitcoin may recover. JP Morgan's Nikolaos Panigirtzoglou and its global strategic team said last week that crypto mayhem had soured investor sentiment so much that certain metrics signaled a good entry point for long-term investors.