Recent studies show that the Millennials generation increasingly trusts the crypto world, so much so that it is more popular to own Bitcoin than global giants shares such as Netflix.
— Ryze (@ryzecrypto) December 5, 2019
Specifically, this is a survey conducted by Charles SCHWAB which published a list of the top 10 Equity Holdings based on the percentage of shares in the assets held between the different generation bands.
The result seems to be, therefore, that for the Millennials, after Amazon, Apple, Tesla and Facebook there is the Greyscale Bitcoin Trust (GBTC) which is nothing more than an investment fund company that offers investors in bitcoin a way to invest in crypto through more traditional investment vehicles.
Greyscale Bitcoin Trust is therefore ranked fifth in the list of shareholdings, surpassing for the Millennials the global giants such as Netflix and Disney.
But Equity Holdings is not the only scenario in which a preference for crypto prevails over traditional and global companies.
As early as 2019, eToro US’s social trading platform, for example, confirmed through its own survey that younger investors are feeling more and more comfortable with cryptocurrency as a potential investment class.
The opposite was true for Generation X respondents who still prefer to rely on traditional stock exchanges.
The interviews also show that the enthusiastic Millennials willing to go beyond the threats of hacks, scams and price volatility of the crypto world are still linked to traditional financial institutions.
So, even if with all the risks associated with the crypto world, the Millennials continue to own Bitcoin and altcoins.
Not only that, according to another Edelman study, 25% of the rich millennials (anyone aged between 24 and 38 years and having at least $50,000 in investment assets or $100,000 in individual or joint income) use or hold cryptocurrency. In addition, 31% of millennials have expressed an interest in owning cryptocurrency.