Crypto popularity growing among young investors despite continued warnings from Central Bank

With 20% of young people now holding crypto, more and more investors admit to using informal information in their financial decision-making

Gabriel Makhlouf, Governor of the Central Bank of Ireland. Photograph: Leah Farrell / RollingNews.ie

One in five young Irish people now hold cryptocurrencies despite continued warnings from the Central Bank of Ireland labelling unbacked assets as unsuitable for retail investors.

Likened to a "Ponzi scheme" earlier this week by Central Bank Governor, Gabriel Makhlouf, new BPFI data shows that 20% of people between 18 and 34 years old hold investments in Bitcoin, Ethereum and other unbacked cryptocurrencies, with 16% of that cohort not understanding the fees and taxes they need to pay on their investments.