As the crypto ecosystem continues to mature and go mainstream, a new study of Millennials has shown a change in investor sentiment and their spending habits. 

Surveying 1,000 American crypto investors, GamblersPick found that the average Millennial today holds a little more than $1,800 in crypto.

The survey reveals that 25% of the respondents bought crypto, using credit cards instead of fiat currency, and have borrowed nearly $500 from banks and families to make up their existing portfolio. When asked about their source for future crypto investments, 21% of surveyors revealed their plan to take on consumer debt, while more than 20% have decided to use either their bank savings or to refinance their homes.

Surprisingly, Baby Boomers have borrowed over $4,000 on average to purchase cryptocurrency. Compared to this, newer generations have taken fewer loans to enhance their crypto portfolios.

The main reasons for holding crypto are the perceived possibility of a price surge and diversification of the portfolio. While Elon Musk stands out as the biggest influence for the surveyed Americans, investors are also considering inputs from traditional investor Warren Buffet and prominent musician/rapper Snoop Dogg.

Out of the lot, Baby Boomers reportedly hold the highest average crypto holdings of almost $2,000 and believe in cashing out only after realizing 65% profit. While women, in general, were more likely to sell crypto holdings for paying medical expenses, 31% of Generation Z and 17% of Millennials are keeping their options open about paying off student loans with crypto. On average, respondents intend to hold crypto anywhere between six months and five years.

Reddit currently stands as the go-to platform for making crypto-related decisions. However, Millennials rely heavily on online forums, Twitter and YouTube for investment guidance.

Related: Minority communities are investing in crypto to escape financial discrimination

A similar set of surveys of more than 4,000 people by Harris Poll showed minority communities in the United States are more than twice as likely to invest in crypto assets. About 25% of the respondents from the LGBTQ+ community reported holding crypto, as well as 23% of Black Americans and 17% of Hispanic Americans.

In tune with higher crypto awareness among minority communities, the poll showed that 43% of Black Americans and 39% of LGBTQ+ communities experienced discrimination from banking and loan institutions.

The Harris Poll CEO John Gerzema believes that crypto’s “new, open and seemingly fewer barriers to entry” can be one of the biggest reasons for rising interest from the smaller communities.