A research note revealed that Millennials prefer investing in Bitcoin (BTC) instead of some of the most valuable shares in global stock markets.
In a study published last November, Charles Schwab, one of the largest brokerage firms in the US, spotted the light on Millennials’ increasingly pro-Bitcoin stance compared with other generations.
Millennials Prefer Bitcoin Than Blue Chips
It is worth noting that, Grayscale Bitcoin Trust (GBTC), a Bitcoin investment fund that saw a record number of shareholders in 2019, equity represents 1.84% of the assets held with Schwab which is more than equity millennials held in international blue chips like Netflix, Disney Corp., Hathaway, Berkshire, Microsoft and Alibaba.
On the contrary, in Generation X and Baby Boomer buyers, Grayscale did not figure in the top choices. Apple was the most popular holding of overall equities across all three generations.
Reacting to Grayscale, Nathaniel Whittemore, the founder of the crypto marketing firm Whittemore, named the company’s progress as “crazy.”
Grayscale still confident about increased interest in crypto investment, as a recent study revealed 36 percent of investors who responded to the study were interested in a bitcoin-based assets.
“Our survey found that 36% of U.S. investors would consider an investment in $BTC, representing a potential market of over 21mm investors in the general population. What else did we learn about individual investors’ perceptions about investing in Bitcoin?”
Twitter responses further indicated that the incoming transfer of wealth to Millennials from their predecessors which could be approx. $70 trillion, which would fall into the hands of those far more likely to invest their wealth on Bitcoin.
Co-founder and Castle Island Ventures partner Nic Carter forecast earlier this month:
“I’d be willing to bet that the GBTC premium will be crushed to single digits on the week of July 15, 2020, and October 21, 2020.”
Tim Draper advised millennials to buy Bitcoin During an interview with FOX Business.