Millennials Are Twice As Likely To Buy Bitcoin Than Gold

[Smeet]

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?

[Coin_trader]

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?

Simple, Millennials like technology rather traditional investment such as gold. They are aggressive too in terms of profit so its obvious that many millennial will prefer BTC over Gold since its a high risk high reward investment. Technology is evolving and people adapt on it so its not a shocking stats.

I don't know the reason why this issue is a bad thing to BTC??

[Smeet]

I don't know the reason why this issue is a bad thing to BTC??

I was thinking that with comparison to gold investing, investors usually buy and lock up gold for the long term.

Similarly, if bitcoin started being bought up and stored for the long term, the amount of btc being transacted daily would be lower, and this would kind of defeat the goal of bitcoin to act as a currency.

[mk4]

Similarly, if bitcoin started being bought up and stored for the long term, the amount of btc being transacted daily would be lower, and this would kind of defeat the goal of bitcoin to act as a currency.

Which isn't a problem. Regardless what percentage of bitcoin are locked up vs. being transacted with, what matters is that Bitcoin is being used both as a store-of-value and as a payments currency. People are going to use Bitcoin for whatever purpose they want to, and one of those is purposes is for SoV. We can't force people to use Bitcoin for a specific purpose(payments) just because it says "A Peer-to-Peer Electronic Cash System" on the whitepaper's title.

[maydna]

I hope that young Millenials can learn more details about bitcoin before they invest in bitcoin, especially for the bitcoin price volatility, because they can panic if they see the price move like a rollercoaster. They should know that bitcoin is not a safe haven because of the volatility, and if they can accept the up and down of the price, they can buy bitcoin at any price they want. But I admitted that the young Millenials have a big curiosity about something, especially if that is about new technology, and bitcoin is a new thing for them, making them search for other news to know what bitcoin is.

[ranochigo]

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.

[Poker Player]

We can't force people to use Bitcoin for a specific purpose(payments) just because it says "A Peer-to-Peer Electronic Cash System" on the whitepaper's title.

Yes. A creation can go beyond the idea of its creator. If Bitcoin is going to succeed by being SoV, so be it.

On the other hand, it's not surprising what the article says about the millenials, since they perform much better in the digital world than previous generations.

[jademaxsuy]

Probably bitcoin is an old fashion of way in investing and we  can have the new way as investing like digital currency in which the value of earning profit could be more than gold. This is why the new generation are after and usually can adapt the new trend of this technology. Traditional investor probably wanted to join in the bitcoin investment but it could be a hindrance to them in where they needed to learn the technology first in which they do not have in their time.

[AniviaBtc]

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?

I think it is because Millennials are more familiar with how technology works.

With its application into business and investment, they are more knowledgeable about the advantages and benefits of bitcoin rather than gold.

Also millennials are more attracted to a short-term investment where you can manipulate it in the market because gold is not like that. We all know that millennials are much greedy because they want an easy money so they engaged to bitcoin but that mindset is wrong. Gold is more secured because it is for a long-term investment and you just need time to make it profitable.

[epis11]

Because millennials prefer to invest in they think they can profit the most compare to traditional gold investment which is complicated hard to buy and really hard store if you want to keep it by yourself, crypto is very easy to managed,buy and sell and exchange to fiat, Im going into bitcoin also over gold. 

[Sirait]

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?

^ Millennials prefer new concepts that are not as complicated as gold. Bitcoin is an example of the simplest investment, you buy yourself, then store it in your private wallet, and then sell it yourself without having to bother thinking about where to store it. ease of investing is what millennials prioritize.

[Latviand]

It is due to the fact that Millennials are easily attracted when they see an asset that is very profitable and have a huge price in the market. These days, if you ask someone what is bitcoin, they probably have an idea already so they will answer immediately. But still gold is much more popular as an asset compared to bitcoin because if you ask some indigenous people in a certain are, they know what gold is, so they will probably choose gold to invest rather than bitcoin. Also bitcoin is an active source of profit while gold is just a passive asset that you need to wait for so many years.

[BrewMaster]

it is always hard for people to change themselves which means people who have for years thought gold is something to invest in can not change their mind overnight and think about investing in something like bitcoin even though it will outperform gold by miles.

on the other hand anyone who is new to investment will seek opportunities and face them with an open mind. consequently they always see the potential of bitcoin compared to traditional assets and are more willing to invest in bitcoin.

in the end they all end up preferring bitcoin over everything else. it just takes time. that is why the bitcoin adoption has been very slow and there is still a lot more adoption to take place.

[DdmrDdmr]

A couple of weeks ago, we saw another conclusion base on a customer survey from deVere being extrapolated over an entire population of Millionaires (see re: Millionaires FOMO: 73% Will Own Bitcoin by 2022, Survey ).

The deVere survey on Milennials focuses on over 700 millennial clients, as per their own wording. That means that, if the survey group is well selected and distributed, the conclusion may be right in the context of their own customers, and perhaps that of customers of similar corporations.

What would be interesting is to perform a street level survey in different whereabouts, and then compare the results, as well as seeing the amount who answer that they haven’t got a clue. Customers of a financial consultancy such as deVere are going to be more alike and investment versed than a similar group randomly chosen at street level, thus what the survey concludes may not be applicable to the general millennial population.

[DeathAngel]

It doesn’t surprise me, gold is a great hedge against inflation but that’s about it. Good doesn’t give you crazy returns. Bitcoin does & it looks like that won’t stop any time soon. You can’t carry gold across international borders but you can literally carry billions of USD worth of bitcoin across borders on your person.

Youngsters are in to tech so it makes sense that we’ll see less & less people interested in gold as time goes on.

[acener]

For my understanding they find it much easier thn the gold since Millennials are more interested in the internet and technology.
They might also see it as an opportunity to have an investment since most of them only see's gold as a jewelry and not as an investment.

[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.

[josepaez]

Millennials are most likely to buying BTC and other cryptocurrencies like MintMe since as someone already said, it's an easier asset to manage by yourself with no trouble.

[AmoreJaz]

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

[pixie85]

Millenials are more likely to buy bitcoin than gold for the same reason why I do.

I don't know where to buy physical gold safely. I also read that you have to pay premium if you want to buy physical gold compared to average gold prices on the market. These prices are based on gold shares. Physical gold which would be the only one for me is more expensive so not really worth it. With Bitcoin there's no real and unreal unless you hold it on exchanges then it's really not your bitcoin just like gold in shares is not your gold.