Sooner bitcoin gushed from $250 to over $7,000 just in two years than the industry encircling it boosted. The millennial’s love for bitcoins soon made the news reporting about the growth and interest among the younger generation. Bitcoins also got featured in the news when it attracted government as it was becoming a crime active ground.
The government has taken effective measures on controlling the diversity of bitcoins among the money launders, drug dealers, and others. This, on the other hand, raised people’s interest even more and attracted more and more millennials to invest in bitcoin.
The facts that we are going to provide comes from a survey based on adults aged more than 18 years. This was conducted by Harris Poll on over 2,000 US residents on behalf of Blockchain Capital, many of these facts will amaze you. Even though investing in bitcoin is a highly speculative matter.
These results show the results of millennials who have invested in Bitcoins and are excited about the upcoming future for virtual assets. If you are already interested to invest in the bitcoin market then you can check the list of best bitcoin traders for making investments that will make you rich like the other millennials.
But, before you do that, read about the facts that made bitcoin so famous among the millennials. For instance, it has been noted that more than 1 among 4 millennials choose bitcoins overstocks. In this survey, 27% said that they would choose to own $1000 of Bitcoin than the same in stocks. The number of male investors where more who indulged in Bitcoins and 38% of them said Bitcoin is a better option for them.
Here are the facts that make the millennials stand out in the bitcoin market than any other generation.
Table of Contents
5 Interesting facts about Millennials and their love for Bitcoins
1. Millennials will only invest in Bitcoins
It has been noted that the love millennials have for bitcoin is not shared by other traditional assets. When they were given the choice on bitcoins versus other traditional means to acquire an asset, they chose bitcoin. When the comparison was between $1000 for Bitcoin or a traditional finance asset this is how it looked like-
a. 31% millennials choose bitcoin than investing in gold
b. 26% made their choice against real estate for bitcoins
c. 43% said that they will invest in bitcoins rather than a government bond
d. 38% said bitcoins overstocks
2. Millennials have higher ownership over Bitcoin awareness
The older generation is one step back from the millennials, it is important to mention that the millennials have more knowledge about bitcoins than anyone else. It is can be better expressed as the awareness if more than twice when compared to older generations. It was noted that 42% of millennials admit that they know about Bitcoin whereas only 15% among the older generations say they have an idea.
3. Millennials are supposed to view Bitcoin on a positive note
Maybe because they are already aware of the bitcoins, they are expected to take this phenomenon favorably than the older generation. When compared it saw seen that millennials agree 10 times more than that of people over 65 years that it is a positive change in the financial sector while 20% millennials said yes and 2% of gen x said they agree about the positive effects. Approximately half of this generation participants (48%) that include 63% male participants agree that it is a positive change whereas only 19% of gen x participants talked about its positivity.
4. Millennials disapprove of the banks when it comes to trust
When the choice of choosing a bigger bank was given on the platter along with bitcoins, 27% of them said they will invest in bitcoins rather than trusting a bank. It sure is surprising given that a bank’s existence is over 400 years while Bitcoin is in the market for just 8 of them.
5. Millennials have their own convictions regarding bitcoin’s future
One among every five millennials agrees that it is still underused and will most likely be used by many people in the next 10 years. 42% of the millennials agree that in the next ten years bitcoin will be the new currency while only 14% of the gen x said the same.
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