Research shows Millennial Generation finds it safer to invest in Bitcoin than in gold

  • Beitrags-Autor:
  • Beitrags-Kategorie:Bitcoin

Larger cryptomeda continues to steal gold space in investment markets.

Research shows Millennial Generation finds it safer to invest in Bitcoin than in ouroNOTÍCIAS

A survey by deVere Group published this week revealed that the Millennial generation feels safer investing in Bitcoin than in gold. The survey was published by Yahoo! and Exame.

Bitcoin Market sponsors Brazil’s biggest swimming competition and will award athletes with Bitcoin for the first time in history
The survey interviewed 700 people born between 1980 and 1996 in North America, the United Kingdom, Latin America, the Middle East, Asia, Africa and Oceania.

67% of people responded that they are more likely to invest in Bitcoin than in gold to protect their investments. deVere Group CEO Nigel Green commented:

„Since ancient Egypt, gold has always been of immense value, and has long been revered as the ultimate refuge. It has always been an indispensable asset in times of political, social, and economic uncertainty, as it is expected to retain its value or even grow when other assets fall, thus allowing investors to reduce their exposure to losses.

Nubank Investors Put $62 Million in Expansion of Bitcoin Exchanges in Brazil
Green went further in his predictions and said Bitcoin is proving it can replace gold as a „safe haven“ investment:

„As this research reveals, Bitcoin may dethrone it as the millennium generation and younger investors, who are the so-called ‚digital natives,‘ believe it is better than gold as a safe haven asset. Milleniums are expected to become increasingly relevant market participants in the coming years, with the largest transfer of wealth in history, estimated at more than $60 trillion.

In addition, deVere Group’s CEO argues that Bitcoin has become a kind of „digital gold“, profiting from the digitalisation of societies in the face of the pandemic and proving that its performance in the face of the 2020 global crisis is safer than gold:

„In 2020, a year of unprecedented financial turmoil, the value of Bitcoin has risen by 170%. The Bitcoin has existed for just over a decade, but already accounts for more than 3% of the gold market cap 9 trillion dollars. As the world becomes more technological and milleniums become a more dominant part of the world economy, we should expect Bitcoin to also play an increasingly influential role in financial markets, especially as a ‚recession-proof‘ asset“.

While gold loses capital, cryptomaniac funds receive huge inflows
This is not the first time that research and major players in the crypto and financial market have drawn attention to the Millennials‘ preference for investing in Bitcoin.

In September, an investment bank executive Morgan Stanley said Millennials are preferring to invest in BTC rather than gold, as this week’s survey reinforced.

As early as January 2020, the data also revealed that investment in Bitcoin already has a preference over other important financial market investments, such as Netflix or Apple shares.