About A Third Of Millennials Say They’d Rather Own Bitcoin Than Stocks

Written by Staff

Nov 10, 2017

About 30 percent of millennials in the 18-to-34 age range — especially males — would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks, according to a survey by venture capital firm Blockchain Capital.

Millennials have always proven to be an interesting crowd when it comes to finance. They do not adhere to traditional rules or reference points.

The study of 2,000-plus people found that 42 percent of millennials are at least somewhat familiar with bitcoin, compared with 15 percent among those ages 65 and up.

From The Merkle. Story by JP Buntinx.

Do keep in mind we are not talking about millennials dumping all of their savings into either Bitcoin or stocks. We are merely talking about setting up a portfolio with US$1,000 or slightly more. This amount of money is still a lot for most people aged 18-34 right now, though. Even such a small portfolio could result in major gains over the coming years. If the current Bitcoin price trend keeps up, $1,000 worth of BTC may be worth $20,000 in the next 10 to 15 years.

Although these numbers may seem promising, very few Americans actually own cryptocurrency right now. Just under 2 percent of the survey respondents own any form of cryptocurrency, whether it be Bitcoin or any of the alternative currencies. That is a very small number, although it was even smaller not all that long ago. It will be interesting to see if this investor base can get much larger in the years to come.

Bitcoin and other cryptocurrencies are quickly dethroning traditional investment vehicles. While this does mean there will be even more price speculation in the future, it also shows people are showing an increased appreciation for what may very well be the future of money. It is always better to keep one’s eggs in many different baskets when it comes to making any investment. Bitcoin and altcoins are a good fit.