Why Millennials Are Netflix And Hodling

[JessicaVL]

To add to the never ending list of things that millenials have supposedly ruined (we see you, boomers) an investment management firm, reported that millenials invested more in Bitcoin (BTC) than they did in Disney or Netflix in Q3 of 2019. Forget Netflix and chill, millennials are Netflix and Hodling.

https://twitter.com/Rhythmtrader/status/1206624800895979521

The report
The figures come from a report by Charles Schwab, which looks at the activity of retirement plan investors, with self-directed brokerage accounts. The report shows that millennials (age 23 - 38) hold 1.84% of their assets in the Grayscale Bitcoin Trust.  Contrastingly, they reportedly hold only 1.58% of their assets in Netflix, and 1.68% in Walt Disney Co stocks.

In comparison, Gen X and Boomers don’t seem to think very highly of Bitcoin. Bitcoin doesn’t feature in the top 10 equity holdings for either group. Older generations seems to prefer investments that are a bit more mainstream, like Amazon and Apple.

Given that Bitcoin really only came onto the scene 10 years ago, it’s not that shocking that Boomers aren’t interested in it. Younger investors are often seen as having a bigger appetite for risk than their older counterparts.

https://www.youtube.com/watch?v=D3kkykT_qqs

Why are millennials so into Bitcoin? 
Millennials are Netflix and Hodling, and there’s obviously a reason why. Unlike baby boomers, who grew up in a time of relative plenty, millennials have been exposed to a whole lot of unsavory things over their lifetimes. From a major global recession, the rise of facism, and worsening climate change, things are a little unsteady for this generation.

Bitcoin was founded by Satoshi Nakamoto in 2008, as a response to the failings of financial institutions around the world. Nakamoto wanted to provide an alternative, decentralized, and secure means of exchange that would go on to revolutionize the financial world as we know it. Bitcoin is that coin - it’s decentralized (which means it functions away from one single entity), and has grown to have a market cap of $133,762,000,076 (at the time of writing).

The cryptoasset industry is an incredibly volatile market. It’s no wonder that millennials are intrigued by it. Millennials are faster to accept changing environments, because they’ve had to do so rapidly over the course of their lifetimes. Contrastingly, things were a little bit slower for Boomers when they were young.
There’s also the fact that millennials have shown to have a level of distrust in central entities like banks and governments, far more so than boomers. For younger millennials who were still minors during the 2008 recession, there’s no doubt that that event had an impact on this generation.

An inherent distrust of centralized agencies is, for many, the reason why they got into Bitcoin in the first place. Bitcoin, and other crypto assets, offer an alternative to traditional financial institutions in such a way that suits the lifestyle of millennials (and soon Gen Z). Although many use it as a form of investment, its primary and initial function is as a means of exchange. Will cryptocurrencies lead us into a cashless society? That remains to be seen, but millennials are definitely at the forefront of mass adoption.

https://www.youtube.com/watch?v=cwASai4hTZU

The facts are the facts
Do boomers still distrust Bitcoin? It kind of seems like it. Contrastingly, millennials are Netflix and Hodling, investing in Bitcoin at a much higher rate than their parents and grandparents. So why is that?

Millennials grew up surrounded by tech, they trust it far more and understand it better than boomers and Gen X. Having been raised in an environment filled with uncertainty (let’s just be honest, the last few decades have been wild), millennials are more likely to take risks on investments. This could also be because they have more to gain, and less to lose.

A healthy distrust of centralized institutions like banks and governments has also led millennials down the crypto asset path. Traditional financial institutions have failed us before, and they will undoubtedly fail us again. Bitcoin is an alternative that can protect millennials from that failing, and this generation is feeling bullish. Millennials are Netflix and Hodling, and it’s about time you do too.

https://www.buzzfeed.com/jessep1/why-millennials-are-netflix-and-hodling-1iht3iiqq0

[qiwoman2]

I am a boomer and one of The generation X, so I think people in my generation who are more forward-thinking and risk-takers are very passionate about Bitcoin and the technological breakthroughs it has unleashed. If boomers like me get more involved, because we have suffered a lot and seen a lot, recession after recession, we also have more patience and staying power, which is what the Millenials can learn from us oldies. I have seen so many younglings come and go in Crypto because they never became rich in the first year, or they lost their money as fast as they made it. I got wiped out in the bear market, but learned from my mistakes and am doing my Bitcoin and Crypto 2.0 accumulation plan. We can all work together, young and old to change the economic climate in this time and I believe this is a pivotal part of our evolutionary history and I want to be a part of the generation that actually did something to better the world for future generations to come. I roped my dad also into Crypto and he is over 80, so we can get older people in, just need to educate them. So, if all you whales out there want to give your mother an Xmas gift, go open her a Bitcoin wallet and teach her how to use it, how to buy and sell Bitcoin or other coins and how to use them to buy and save.

[ChrisPop]

I am a boomer and one of The generation X, so I think people in my generation who are more forward-thinking and risk-takers are very passionate about Bitcoin and the technological breakthroughs it has unleashed. If boomers like me get more involved, because we have suffered a lot and seen a lot, recession after recession, we also have more patience and staying power, which is what the Millenials can learn from us oldies. I have seen so many younglings come and go in Crypto because they never became rich in the first year, or they lost their money as fast as they made it. I got wiped out in the bear market, but learned from my mistakes and am doing my Bitcoin and Crypto 2.0 accumulation plan. We can all work together, young and old to change the economic climate in this time and I believe this is a pivotal part of our evolutionary history and I want to be a part of the generation that actually did something to better the world for future generations to come. I roped my dad also into Crypto and he is over 80, so we can get older people in, just need to educate them. So, if all you whales out there want to give your mother an Xmas gift, go open her a Bitcoin wallet and teach her how to use it, how to buy and sell Bitcoin or other coins and how to use them to buy and save.

I agree with you here. We should learn something from each generation as some have experience and knowledge while the younger ones are more fast-paced sort to say and maybe more impulsive. There are not many people from generation X like you who got into the cryptocurrency sphere. Statistically millenials are much more open-minded to new stuff. Most people I know in the 40s-50s have a more conservative mindset.

[YuginKadoya]

I was born in 1987 so particularly I am a millennial well, in these years were was likely don't have a crisis but most financial ones we can say that most millennials are open-minded when it comes to investing and risking these seems like we are exploring and ready to take a risk when it comes to business and relatively new kind of investments scheme we can see in that era people are notable in different kinds of work and particularly many millennials are open in inflation rates now while I am not saying that we all are into this kind of scheme I am seeing many open-minded Millenials than baby boomers into the world of cryptocurrency.  

Millennials are exploring and ready to take the risk.

[ashmodeus]

it seems so far from now , all with digital money ,how to implement it in traditional markets ?
i also curious with goverment how to adopted it , u talk about global effect right ?
so , the point , its imposible for now.

[el kaka22]

Was this really like a secret that needed to be said or even had a article of its own? Isn't it obvious that millennial have watched the boomer generation destroy the stock market to a point where stock market used to be for companies to get bigger with money they get from there but now instead it is used to get more and more money by destroying everyone on their path and if they are not greedy enough to drop salaries, fire people, destroy lives, cut competitions prices and do as many horrible things as they can and make a profit, well simply people sell the stock, price drops and CEO is fired by the board and someone more ruthless comes to work.

So, we just invest into bitcoin... nothing happens, no drama, no problem, nothing that destroys anyone's life, just pure bliss.

[dothebeats]

Given the pace of life millennials have found themselves in, it's no wonder that they would be wanting fast-paced investments wherein results can easily be seen. It's actually quite ironic to know that millennials who still have more time in their hands are more impatient than their boomer counterparts who, let's face it, does not have that huge of a time to spent on this world. Perhaps it's due to experience and knowledge of the boomers that make them cautious into investing though as time passes and as regulations encroach the crypto space, boomers are also slowly adopting to the trades of cryptocurrencies and are continuing to do so.