It has long been believed that younger people are typically more likely to invest in newer items than some of the more traditional staples that people can find on today’s investment market. The bitcoin is the latest example of an investment that younger people are sticking with. This comes amid many millennials having their own ideas as to what makes this currency viable as a strong investment.
Blockchain Capital recently conducted a survey of investors and found that younger ones are likely to get into bitcoin investments above all others. They are not as interested in stocks and are more attracted towards cryptocurrencies and other more modern types of investments.
The review said that around 30 percent of investors in the 18-34 age range would rather have $1,000 in bitcoin investments than the same for stocks or government bonds that people have been using for a while.Advertisement
Meanwhile, around 42 percent of people in that 18-34 age range that compromise millennials have some familiarity with the bitcoin. Only 15 percent of those 65 years or older actually recognize this.
The survey results were based on an analysis of 2,000 people that Blockchain Capital contacted. The people were voluntarily contacted to participate in the survey although they did not list information on how many people in each age group were included in the report.
What Is Inspiring This Move?
Blockchain Capital surmises that millennials are sticking with the bitcoin for numerous reasons. These relate to many issues relating to modern day investments:
- There is the belief that younger people are more likely to trust in the bitcoin than more seasoned investors.
- Many younger investors are not as willing to trust banks and other traditional financial groups. They are attracted to the bitcoin as it is radically different for being decentralized and not depending on those older groups.
- Millennials are often interested in doing things outside of the mainstream. Investing in the bitcoin is seen as being an alternative solution for investing that might be appealing to many.
- The technological features of the bitcoin make it more interesting to younger investors who might gravitate towards the bitcoin and other similar currencies.
Will the Numbers Change?
Although it is clear that the bitcoin is a more popular investment among younger people, the bitcoin could still be an attractive option for older investors. This comes as the bitcoin continues to rise in value and more stories and discussions about the coin come along.
How Many Own It?
Blockchain Capital estimates that only around 2 percent of all Americans who invest have actually invested in the bitcoin. This suggests that the rise in the coin’s value is coming off of a very small grouping of people. But this number is expected to increase after a while as the bitcoin continues to thrive as a prominent investment option.
This general review shows that there is a great amount of money involved with the bitcoin and that millennials are going to keep it moving forward. This is not to say that older investors might be interested in the currency as time moves along.