45% of Millennials Prefer Bitcoin Over Big Banks, Stocks, and Gold: Tokenist Survey

People all over the world are increasingly interested in bitcoin over the traditional asset classes, according to a survey conducted by The Tokenist.

The survey was conducted in 17 countries polling 4,852 respondents revealed that 45% of them prefer to own bitcoin over stocks, real estate, and gold, an increase of 13% from 2017.

Belonging to the age group of 18-65, millennials’ confidence in bitcoin has “increased dramatically” against government bonds, real estate, and gold.

Bitcoin remained the leading alternative asset as a hedge against traditional financial markets despite experiencing multiple cycles of volatility in the past 3 years.

Price Speculation is what makes Bitcoin Attractive

There has been a drop in public confidence towards financial stocks, compounded by the recent COVID-19 market fluctuations.

Moreover, 43% of respondents feel that most people will be using Bitcoin within the next decade while 44% of millennials are likely to buy BTC in the next five years.

Bitcoin is also the favorite long term investment by millennials while real estate is the preferable choice of those in the higher age groups and stock market for the 35-35 years generation.

And what makes bitcoin attractive is price speculation (31%), followed by being a store of value (19%), its scarcity (17%), and potential inflation of the US dollar (12%).

While millennials are more attracted to bitcoin, the majority of respondents are somewhat familiar with the digital currency. What’s striking is, 51% of those over the age of 65 are familiar with BTC.

Increased Trust in Bitcoin than Big Banks

Recently, JPMorgan strategist highlighted that bitcoin’s behavior during the coronavirus pandemic added to its “longevity as an asset class.” Also, the report said bitcoin is more resilient than currencies, equities, Treasuries, and gold.

This came after JPMorgan CEO Jamie Dimon remained a crypto skeptic and called bitcoin “fraud”.

Now, as per Tokenist’s survey, 47% of respondents trust bitcoin over big banks, which is an increase of 29% in 2017.

Millennials are the ones with increased trust in BTC as 95% of those aged over 65 still trust big banks over bitcoin, a level remaining constant in the past three years.

“The recent volatility of assets held by big banks, and the increased professionalization of the BTC sector,” are the factors behind this trend, says the survey.

Bitcoin (BTC) Live Price

1 BTC/USD =$10,733.9453 change ~ 0.46%

Coin Market Cap

$198.47 Billion

24 Hour Volume

$124.39 Billion

24 Hour VWAP

$10.68 K

24 Hour Change

$49.6060

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,482FansLike
2,795FollowersFollow
4,266FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Investors With Low Financial Literacy Are Twice As Likely to Own Crypto vs Market Gurus: Bank of Canada Report

A new study released by the Bank of Canada has revealed that folks with lower financial literacy are more likely to own Bitcoin than...

Love it or Hate it, UNI Token Stands to Benefit from Uniswap’s Evolution

After releasing the UNI token as part of Uniswap V3, the first update for Uniswap V3 has been made on Github. It might say...

Israeli Draft Bill Proposes Bitcoin be Defined as Currency to Cut Down the Hefty Capital Gain Tax

Four members of the Knesset, Israel’s legislative body, from the Yisrael Beiteinu faction, the secular nationalist political party, have submitted a private member’s bill...

TRON Partners With BitGo To Mint New Wrapped Bitcoin And Ethereum Tokens On Its Blockchain

TRON launches wrapped Bitcoin and Ethereum on its blockchain. The blockchain aims at taking over the raging DeFi market. Tron announced a partnership with...

More Urgent than Ever – Ethereum Layer 2 Solution Goes in its First Phase of Testnet Launch

Ethereum layer 2 solution Optimism is welcoming the first phase of the Optimistic Ethereum Testnet. This development has become a necessity of the market thanks...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today