Despite a relatively low understanding of cryptocurrencies among the general public, a broad coalition of young American parents, particularly millennials, are joining the crypto craze. Overall, just 13% of Americans own cryptocurrencies – but among millennials, that number is far higher at 25%, according to Harris Poll data given exclusively to USA TODAY. About 29% of millennial parents own cryptocurrencies, the data shows. Roughly 21% of them "aren't at all concerned" that their value of their cryptocurrency may go to $0, while 63% are at least "somewhat concerned." Young Americans see it as a long-term investment opportunity to build wealth after being hit by two “once in a lifetime” recessions early in their prime earning years while being burdened by student debt loads and stagnant wages. “Any money used to invest in speculative investments like cryptocurrencies should be money that investors are willing to walk away from and not used as money dependent for financial goals,” according to Shelly-Ann Eweka, senior director of financial planning strategy at TIAA. “There’s a significant amount of risk, and you could lose all of your investment.” Many young people feel pressure to quickly fill up savings and retirement balances that remain low and to pocket enough cash to buy a home, a life milestone that boomers and Gen Xers did at higher rates when they were the same age, financial experts say. So for some money managers, it comes as no surprise that millennials with kids want to profit from cryptos now that they are in their mid-20s and early 40s. "Millennials are the bagholders of student debt who’ve been unable to outearn the liability they took on," says Douglas Boneparth, president of Bone Fide Wealth, a financial adviser. "Even for those who were able to get out from under it, they’ve pushed themselves to the limit to succeed professionally, satisfy that debt, still buy a home and start a family." #money #economy #crytocurrency