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Millennial investors are more inclined to hold Bitcoin in their portfolios than traditional assets like gold. This phenomenon is not only understandable because the “digital natives” have easier access to how BTC and Co. work, but some surveys among investors have confirmed this preference on several occasions. Ruchir Sharma, global chief strategist and head of emerging markets at Morgan Stanley, also endorses this phenomenon. He revealed this in an interview with the news channel CNN.
Bitcoin: an asset especially for millennials
In the September 8th CNN interview, Sharma notes that younger investors prefer Bitcoin to gold instead of those born in the pre-digital era. With this, the chief strategist of the major bank Morgan Stanley confirms what has often resulted from many surveys among investors.
I think some of the older [investors] are still buying gold, and the Millennials are buying more of the Bitcoins and crypto currencies.
One of the reasons this particular demographic group (the Millennials) considers Bitcoin a better investment than gold is the controversial policy of central banks to revive the economy after the coronavirus pandemic through various stimulus packages.
What significance does the blockchain have for financial markets?
In general, I think there is a feeling out there that, given what the central banks are doing to print so much money, alternative investments are being sought. So I think these assets could continue to do well.
The Morgan Stanley executive specifically advises investors to invest 5% or more of their gold portfolio if you are more “adventurous,” then something in Bitcoin as well.
If you are a bit more adventurous — and I suspect it has more to do with demographics — then you are obviously looking for Bitcoin and other crypto currencies.
A look into the future: the great wealth transfer
So Millennials have a high affinity with Bitcoin compared to older generations because they were born and grew up when technology was already part of everyday life. This aspect could become very interesting for the digital asset, especially in the next 10–20 years, due to a large asset transfer.
Studies show that older generations will bequeath up to USD 68.4 trillion to younger ones over the next 20 years. Because of the younger generations’ greater affinity for Bitcoin, a considerable amount of this could also flow into BTC and drive the Bitcoin price in the long term.
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Bitcoin more popular than gold among millennials according to Morgan Stanley Executive was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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