27 Percent Of Millennials Would Rather Own Bitcoin Than Stock
Millennials would rather own Bitcoin than other age groups and this demographic is key to the growth potential of the cryptocurrency over the next five years.
The percentage of people age 18-34 who describe themselves as at least “somewhat familiar” with Bitcoin rose from 42 percent to 60 percent in 16 months, according to new Harris Poll. The poll was conducted on behalf of Blockchain Capital, a Silicon Valley-based venture capital firm focused on blockchain technology and the crypto ecosystem, Forbes reported.
Listen to GHOGH with Jamarlin Martin | Episode 15: Clarence Wooten
Jamarlin talks with Silicon Valley-based entrepreneur Clarence Wooten, who sold his first tech business for $23M. They discuss Bitcoin’s long-term prospects and how blockchain has opened up new capital-raising opportunities for entrepreneurs.
Blockchain Capital commissioned a survey in 2017 during a bull market when Bitcoin was up more than 800 percent year-on-year. The most recent survey in April 2019 was conducted in a bear market. Blockchain’s price was down about 75 percent from an all-time high.
“Despite the bear market, the data shows that Bitcoin awareness, familiarity, perception, conviction, propensity to purchase and ownership all increased/improved significantly — dramatically in many cases,” Blockchain Capital partner Spencer Bogart wrote in a blog. “The results highlight that Bitcoin is a demographic mega-trend led by younger age groups.”
Among millennials, the percentage of people who think that bitcoin is a positive innovation in financial technology rose 9 percent — the most of any age group.
Millennials also agree more than other age groups that most people will be using Bitcoin in the next 10 years. And millennials outdid other age groups in saying they’re likely to buy Bitcoin in the next five years.
They’d rather own Bitcoin
Here’s more on how much millennials like bitcoin:
- 30 percent said they would prefer Bitcoin to government bonds.
- 27 percent said they would prefer Bitcoin to stocks.
- 24 percent said they would prefer Bitcoin to real estate.
- 22 percent said they would prefer Bitcoin to gold.