Bitcoin Beats Microsoft, Netflix, & Alibaba as the Top Choice Among Millennials: Charles Schwab

  • Unlike Baby Boomers and Gen Xers, Millennials More Interested in Investing in Bitcoin via GBTC than Berkshire Hathaway
  • Millennials are into ETFs, Cash & Mobile Trading

One of the largest banks and brokerage firms in the United States, Charles Schwab released the findings of its latest SDBA Indicators Report that covers data from about 142,000 retirement plan participants who have balanced between $5,000 and $10 million in their Schwab Personal Choice Retirement Account.

With 42% share, GenX is the biggest participant of SDBA (Self-Directed 401(k) Balances) followed by Baby Boomers at 39% and with just 13% Millennials.

Millennials More Interested in Investing in Bitcoin via GBTC than Berkshire Hathaway

Millennials, the report revealed is more interested in Bitcoin than Berkshire Hathaway, Disney, Microsoft, and Alibaba. 1.84% of Millennials’ portfolio belongs to Grayscale Bitcoin Trust but didn’t find any place in that of Gen X and Baby Boomers.

GBTC, the digital asset management service provider, however, is still in 5th place, falling behind Amazon, Apple, Tesla, and Facebook.

GBTC is currently trading at about 10.40% premium with each of its shares that represent the ownership of approximately 0.00097 bitcoin is trading at $8.8100 while the value of BTC is $7,350 as per Coincodex.

The leading cryptocurrency is up 93% YTD and down by 63% from its all-time high of $20,000. With the reward halving just five months away, that has acted as a catalyst for Bitcoin price historically, a bull rally is expected to take charge of the market soon.

Bitcoin might be popular among the millennials but GenX and Baby Boomers aren’t interested in it. Apple and Amazon are the most popular choice while Berkshire Hathaway, Facebook, Microsoft, Alphabet, Boeing, Visa, and AT&T are still leading their portfolios.

Millennials are into ETFs, Cash & Mobile Trading

Another interesting assessment by the bank is millennials allocated a larger percentage of their portfolios to ETFs (24%) and cash (16%), more than other generations.

Also, mobile trades are popular among Millennials, something found in Gen X as well at 22% each compared to 16% of Baby Boomers.

Given that millennials are just getting started and haven’t been in the game for long, they have the lowest SDBA balance of $68,756 while Baby Boomers have the highest at an average of $394,064 followed by Gen X at $213,018.

Moreover, 22% of Boomers and 21% of Gen Xers use an advisor to manage their SDBA while only 15% of Millennials.

Get Daily Headlines

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

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide