Millennials Are Twice As Likely To Buy Bitcoin Than Gold

[Twentyonepaylots]

Millenials are best known for their lack of interest regarding material stuff that holds value. That is why diamonds are at an all time llw for a long time now. They are also known for their huge impatience, they wouldn't want a thing to be done in 5 mins. ig it can be done within 2 mins. anyway. So yeah, Millenials are indeed cauzing this huge of an impact.

[Ryker1]

Well, Millennials have embraced the internet wholeheartedly though it can give either positive or negative results that already depend on the individual. In fact, --even seniors and the oldies are also trying to cope up with the technology. If the internet had come earlier, like a few decades ago then I think the generations back then have done the same thing as well. People would have started adopting bitcoin rather than gold if blockchain technology was introduced at an earlier time since gold is still regulated by the government that compromises the term ^{[safe haven]}. Honestly, --I don't see any bad thing if Millenials prefer bitcoin to conventional gold as other oldies are starting to adopt bitcoin too.

[passwordnow]

It's because buying bitcoin is easier than buying gold. Millennials today don't like those things that have a long process before you can ever have it. And that's why if that report says that millennials are more into bitcoin. It's easy to have it and at the same time while investing in it.
Bitcoin is accessible everywhere as long as there's internet while in gold, you need to be personally present at whichever store or individual you'll buy it.

thats the major reason here nothing else. acquiring gold is not that easy as buying btc online. and to add the fact that crypto is the new currency circulating in the internet. most of them want to be "in" in this digital age. holding crypto in their wallets is like they belong to the group.
and this generation can easily understand how crypto works because of the things that they are already doing via smartphones and their gaming activities.  it would not be hard for them how to install a crypto wallet and start owning or trading crypto on their phone. gold for them is the obsolete way to spend your wealth into

Yes. Add that digital age that's being recognized by everyone. In this pandemic, everything is on the internet and that's why its recognition as a good asset which can be bought easily by anyone who's interested in owning can be done as quickly as possible.
Wallets in smartphones, as long as you have a data connection, you can go everywhere and bring your money with you in bitcoin. While in gold, you can't bring your entire gold wealth with you everywhere.

[maxreish]

Well, simply because millenials wanted adventures of being part of this amazing technology. Compared with the older ones, millineals has a guts of joining new type of things like bitcoin. Part of them are brave enough to encounter risky and volatile type of investments like this one. However, there are still millenials that aren't into bitcoin and considered Gold than bitcoin since not all of them sees the opportunity of using it.
 
 Let's also be realistic. Digital payments and advanced technology and online stores are now widely used worldwide which cryptocurrencies like bitcoin can be used and that makes it more convenient with this generation.

[Ridwan Fauzi]

The millennial is tend to take a high risk, if we compare with an old investor they will think a thousand time to buy bitcoin for investment purpose. As we may know and I think there will be many people who will know that bitcoin price is so volatile, that's why they call it a high-risk place for investment.

Rather than that, the millennial must have a good analyst and knowing bitcoin the ins and out of it, since bitcoin was born from the technology field so just someone who knows the technology will be easy to accept bitcoin, there may be a few old people who likes bitcoin and having it.

And the last factor is bitcoin is not a place for investing their money, more than that they can use it as a sending money tool or even to play gambling, there are so many gambling places who use bitcoin especially online gambling, so for those who like investing and gambling they will choose bitcoin.

[bitterguy28]

This interesting article shows that during this ongoing pandemic, many investors are looking for a safe place to "park" their money. 67% of millennials are more likely to invest in Bitcoin than the conventional Gold asset class.

What are your thoughts on the reasons behind this statistic, why are millennials more likely to invest in bitcoin than gold?, and could this be a bad thing overall for Bitcoin?

They are more techy than anyone from our generation so if there is someone that would surely adopt Bitcoin and crypto no other than them.

They know nothing about gold and have no interest in Physical form of assets,as they are  using everything from their devices so this is indeed what future may bring and all our efforts here is for their benefits.

[Searing]

In my view, millennials have a few things correct. I'm 65 years old, thus when I was growing up I had very little in the way of toys or self-absorbed

activities like Internet/PC's/Kindle etc. Thus in my later years, it seems I now have a house of 'dubious' possessions or what most people would call 'junk'!

Millennials from what I can tell, after being swamped in the last 20 years in my humble opinion with all sorts of baby plunder/toys/etc growing up...and

the vast majority of these consumer goods were more on quantity than quality are actually quite wise in their view of conspicuous consumption and too

much clutter.

Thus why have the clutter of gold and the rest when Bitcoin/Crypto meets the need indeed!

I myself, will eventually, when they 'drag me off' to the Nursing home in 20 years, kicking and screaming (literally I'm a Shotokan Karate Practitioner)

I often find myself wondering, I obviously am 'different' from my age group on finance and BTC/Crypto...perhaps I should pull the trigger and simply

dump the house/the stuff/and it all 20 years early and just travel and/or rent. As the world of the USA gets weirder and weirder that seems to be becoming

a big pull. So anyway, I see this as a trend that will 'trickle' out over the next 5-10 years as a result of millennials' views on BTC/Crypto.

Probably should have happened a decade or so ago and with more financial freedom than my generation (my wealth is in the house stocks/bonds) probably

in 5-10 years more options and security as well, IF BTC/Crypto follows the same path and adoption it has in the last 10 years as well.

I'm fairly sure that if Trump would have gotten re-elected that actually may have pulled the trigger on the above, me 'simplifying' my life of clutter.

Anyway, just saying, the stuff and house and such eventually has to go, BTC/Crypto has certainly given me more options than the majority of my wealth

in stocks/bonds/house/and stuff.

Still pondering this, but I do see what the OP says is true and may even be a trend between generations also.

Brad

[Lorence.xD]

I would say Gold or other similar commodity are a hedge against inflation. It would make sense for the more conservative population to be purchasing precious metals as compared to other commodities. I wouldn't say that it for certain but most of the younger generation tends to be more well versed in technology and are generally more willing to take the risks. I find Bitcoin to be more of a suitable investment as compared to Gold and if history is any indication, Bitcoin tends to fare well in the long term.

Not just that younger generations are more inclined to technology but also the fact that it is difficult to buy a gold and there are a lot of fees and papers needed to get one. In my country, when you buy gold that is from the central bank, there are papers needed before hand like personal details, tax and insurance. You also need to pay for the storage as you can't hold the gold for yourself, they safekeep it for a price. I think that convenience also plays a role on why young generations are choosing bitcoin over gold.

[Innerpumper]

this is one of the few benefits of bitcoin that people should be very benefited by because of the current pandemic, with bitcoin able to transact non-cash via mobile phone or ewallet only. Hopefully this will continue to gain a lot of public trust in the future because the pandemic has lasted almost a year. I'm guessing it's going to take a very long time for the world to recover.

[dizzy1996]

Everything is as simple as possible, many large investors prefer investing in bitcoin, since it is not tied to anything and does not particularly sink in price, if we speak for gold, then it strongly depends on the dollar and oil, if one of them sinks, then gold will also sink, and now think about where to invest safely, the answer is logical

[Ratash]

I think that its due to the fact that they are more adapted to technology than the previous generation and its easier to invest in bitcoin rather than gold because you can do it with a small amount of money and little effort.