Topic: Millennials Are Twice As Likely To Buy Bitcoin Than Gold (Read 405 times)

We know that millennials are into technology now, they are very interested on it, and also maybe some of them think that investing or buying bitcoin and altcoins are quite faster in terms of ROI than gold or they can get much bigger than gold, but as a millennial if I will ask to choose between these two, i will not choose but rather diversify my assets, so that in the long run it could be a win-win too all of us.

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.

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

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

^ 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.

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. 

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.

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.

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.

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.

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.

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.

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.

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??

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?