Some investors are putting more money into cryptocurrencies than stocks

Some investors are putting more money into cryptocurrencies than stocks

Investors who are bullish on cryptocurrencies are betting more on the digital assets than stocks. In September, crypto investors put an average of $263 into accounts dedicated to coins, more than the average $250 they put in traditional brokerages during the month, "Month over month, the amount that users are putting into either crypto or traditional investments have shifted," said Amber Foucault, head of product at Cardify. So far this year, nearly 25% of the money that investors are putting away is going to cryptocurrencies, a big jump from 5% last year, she added. Many of the volatile assets have seen solid performance in recent days. On Wednesday, , an all-time high for the cryptocurrency. The digital asset is up about 130% year to date. The asset price was supported by the Tuesday launch of the , which tracks bitcoin futures. Other cryptocurrencies have also risen on the positive sentiment. jumped about 7% Wednesday to $4,087. and also gained Wednesday. The shift towards favoring cryptocurrency over stocks is being driven by novice investors — 70% of those surveyed have been trading the assets for less than a year, according to Cardify. Most cryptocurrency investors surveyed wouldn't consider themselves experts on