Topic: Study Claims 1 In 3 Millennials Would Rather Own Bitcoin That Stocks (Read 176 times)
November 09, 2017, 04:52:34 PM
As one of the Millennials I chose Bitcoin too. Tbh I thought of buying stocks as well before (the time that I didn't know about bitcoin yet) but I don't know how to start with and when I ask people it seems to be a bit complicated. When Bitcoin was introduced to me, it was way better, all I need is internet and I can learn and apply learnings by myself (eg.Trading). Also, I hold my coins and I am the one who will decide on what to do with it. Millenials are fond of surfing the Web and internet is part of our lives today (well most of us), so it's not surprising.
November 09, 2017, 04:23:44 PM
If the studies are correct and 1 out of 3 millennials would rather invest in Bitcoin than stocks, it seems to be a good thing, if the study was done today, I think they could come back and check again after 6 months, and check whether the numbers are still the same. In my company, we have a lot of millennials, only a few of us had invested in bitcoins last July, and we are still convincing friends back then to check out Bitcoin, to do some research, it came to a point when after trying to convince them, we are still left out, just amongst ourselves, the price back then was not even at 4k USD, then after a few months we grew in in number, they also wanted to join in, since it is a good investment, I think there is a part of FOMO, but the number of Bitcoin users in my company did grow. I think the statistics we have now will surely change, making Bitcoin to be a more trusted currency.
November 09, 2017, 04:11:34 PM
Well of course they rather own bitcoin than stocks. With the next financial crisis around the corner bitcoin is probably as safe as gold or silver to invest in. Being raised in a world with only technology I think stocks and bonds sound to old for millennials and is more part of their generation and of course the future.
November 09, 2017, 04:04:16 PM
I've found it near impossible to work out how to value companies in the social media space. And that's after 30 years of investing.
Facebook at least had a reliable stream of revenue when it listed. I suspect time will show it will be the only social media company worth investing in.
In much the same way, Bitcoin will always maintain an edge over altcoins and likely prove the best crypto investment. Bitcoin has built belief over many years now.
The stockmarket is the teacher of some very harsh lessons and is home to all sorts of opaque practices.
Digital currencies are far more transparent and I suspect people believe they are subject to less manipulation.
In the race for my trust, Blockchain overtook the Wall Street broker a long time ago.
Facebook at least had a reliable stream of revenue when it listed. I suspect time will show it will be the only social media company worth investing in.
In much the same way, Bitcoin will always maintain an edge over altcoins and likely prove the best crypto investment. Bitcoin has built belief over many years now.
The stockmarket is the teacher of some very harsh lessons and is home to all sorts of opaque practices.
Digital currencies are far more transparent and I suspect people believe they are subject to less manipulation.
In the race for my trust, Blockchain overtook the Wall Street broker a long time ago.
November 09, 2017, 03:51:25 PM
And as so often the best way to do it lies in between. You can fail miserably in Bitcoin as you can in stocks. Educate yourself, learn what it is you are dealing with and then invest an amount you are not sad about if it's lost.
November 09, 2017, 03:44:04 PM
Quote
Having 'dabbled' in what they know best - Snap - Millennials are increasingly turning their back on stocks and buying bitcoin...
In March of this year Millennials piled in to Snap shares...
That has not ended so well...
As a reminder, Peter Lynch has actually recently clarified his now-mythical advice - which perhaps some Millennials should be paying attention to...
But they appear to have learned nothing as Bloomberg reports that a survey by venture capital firm Blockchain Capital found that about 30 percent of those in the 18-to-34 age range would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks.
Bitcoin is up over 600% year-to-date, 60 times more than gold, 30 times more than NASDAQ, and 5 times the rise of the Swiss National Bank's shares...
While just 2 percent of Americans own or have owned the cryptocurrency, according to the survey, that investor base might get larger as millennials become the main investment force. At that point, U.S. regulators may have approved bitcoin ETFs, and the derivatives market might be somewhat mature, making it easier for the new bitcoin buyers.
In March of this year Millennials piled in to Snap shares...
Quote
... the median age among Snap buyers on Thursday was even younger, at 26.
“I wanted to test the waters and play around with some money I wouldn’t be too devastated to lose,” Ms. Shoenthal said. “I think I’m going to stick it out for at least a few years.”
Ms. Shoenthal, who uses Snapchat every day, said this was her first big stock pick. She’s gotten interested in stocks this semester because of classes she’s taking on personal finance and branding. She thinks the prospects for Snap are bright, particularly given that Snapchat is changing the way many young people, including her friends, read the news.
“I have high hopes” for Snap, Ms. Markley said. “I think they are doing really cool things.”
She doesn’t do much investing generally, citing student loans and the high cost of living in the Bay Area, but got excited by the talk of the IPO. One promising sign of the company’s growth prospects, she said: Even her parents are using it now.
“I wanted to test the waters and play around with some money I wouldn’t be too devastated to lose,” Ms. Shoenthal said. “I think I’m going to stick it out for at least a few years.”
Ms. Shoenthal, who uses Snapchat every day, said this was her first big stock pick. She’s gotten interested in stocks this semester because of classes she’s taking on personal finance and branding. She thinks the prospects for Snap are bright, particularly given that Snapchat is changing the way many young people, including her friends, read the news.
“I have high hopes” for Snap, Ms. Markley said. “I think they are doing really cool things.”
She doesn’t do much investing generally, citing student loans and the high cost of living in the Bay Area, but got excited by the talk of the IPO. One promising sign of the company’s growth prospects, she said: Even her parents are using it now.
That has not ended so well...
As a reminder, Peter Lynch has actually recently clarified his now-mythical advice - which perhaps some Millennials should be paying attention to...
Quote
What’s wrong with the popular-wisdom version of his ideology, which is usually cited as “invest in what you know”?
It leaves out the role of serious fundamental stock research. “People buy a stock and they know nothing about it,” he says. “That’s gambling and it’s not good.”
It leaves out the role of serious fundamental stock research. “People buy a stock and they know nothing about it,” he says. “That’s gambling and it’s not good.”
But they appear to have learned nothing as Bloomberg reports that a survey by venture capital firm Blockchain Capital found that about 30 percent of those in the 18-to-34 age range would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks.
Bitcoin is up over 600% year-to-date, 60 times more than gold, 30 times more than NASDAQ, and 5 times the rise of the Swiss National Bank's shares...
While just 2 percent of Americans own or have owned the cryptocurrency, according to the survey, that investor base might get larger as millennials become the main investment force. At that point, U.S. regulators may have approved bitcoin ETFs, and the derivatives market might be somewhat mature, making it easier for the new bitcoin buyers.
http://www.zerohedge.com/news/2017-11-09/1-3-millennials-would-rather-own-bitcoin-stocks
...
2 interesting statistics coming from the survey cited in this article done by venture capital firm Blockchain Capital.
- Only 2% of americans own or have owned cryptocurrency
- 30% of 18 to 34 year olds would rather own $1,000 worth of bitcoin than $1,000 of government bonds or stocks.
Snapchat is also a good example of how companies or apps that look good on the surface to milennials can often turn out to be poor investments. On the backend of the dot com bubble there aren't many fast growing new enterprises which may attract lower age groups as being good investments. In a sense, bitcoin and crypto could be one of the few emerging investment opportunities youth have exposure to.
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