Nearly a Third of Millennials Say They'd Rather Own Bitcoin Than Stocks
From Bloomberg
It’s become commonplace in news headlines to say millennials kill everything from romance to napkins, but now a survey shows they might be responsible for keeping the rally in bitcoin alive.Read more: https://www.bloomberg.com/news/articles/2017-11-08/millennials-ready-to-ditch-stocks-to-keep-bitcoin-rally-aliveA survey by venture capital firm Blockchain Capital found that about 30 percent of those in the 18-to-34 age range would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks. The study of more than 2,000 people found that 42 percent of millennials are at least somewhat familiar with bitcoin, compared with 15 percent among those ages 65 and up.
Bitcoin rose more than 6 percent Wednesday to as much as $7,545, helping to push the value of the total cryptocurrency market above $200 billion for the first time, according to CoinMarketcap. The digital asset has soared more than 600 percent this year, compared with gains of 15 percent for the S&P 500 Index -- which might explain millennials’ attraction.
Why not have both? I think there is very real tangible value to owning shares in profitable businesses. Even if you think the dollar will collapse those businesses will most likely still be needed and you can collect your dividends in bitcoin in a blue skies scenario.
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They will probably make more money. LOL
In all seriousness, it shows a couple things. To start, millennials are fairly tech savvy so they understand blockchain and the possibilities. Second, they are a bunch that doesnt follow the usual model of things like the generations ahead of them. Things have changed so much in their lifetimes that it is a constant to them. In my teen years, the major breakthroughs were cable t.v. and the VCR (I guess you could say gaming systems too but they were very basic).
Overall, this is a positive. This group will understand the token economy AND be willing to forgo the established conglomerates that we all seem to detest. Hell, this group doesnt even want to use email.
Thanks for a great post and the Millennials want things instant and they don't want anything that will keep them bound - so Bitcoin makes a lot of sense. So when they are in charge what would Bitcoins purpose be and would they have a bank account of just own BTC and other altcoins ????
nice post ... follow me and upvote my post
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Yeah, failing countries really love their Bitcoin.
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