BTC - More Millennials invested in Bitcoin than NFLX and DIS
Millennials sure do love their bitcoin
In a quarterly report released by Charles Schwab, it was revealed that on a percentage basis, millennials have more of their assets invested in GBTC (Bitcoin) than Netflix, Disney, Microsoft etc.
In fact, according to the Schwab report GBTC is their 5th largest stock/etf holding on a percentage basis overall.
Right behind Facebook.
Check it out:
Some observations...
GBTC is the 5th largest equity/etf holding in millennial's self directed retirement accounts.
Neither Gen X nor Baby Boomers hold GBTC in any significant amounts, with it not even making their list of top 10 equity holdings.
Exposure to bitcoin is increasing for millenials while not moving much for Gen X and Baby Boomers.
Bitcoin is very much a millennial thing.
Stats like this show us that what Mike Novogratz is trying to do is right on the money...
https://steemit.com/bitcoin/@jrcornel/btc-novogratz-is-trying-to-get-your-parents-to-buy-bitcoin
He's targeting the baby boomers as they currently have the most wealth and the least amount of exposure to bitcoin.
Interestingly enough, this might also explain why GBTC trades at a significant premium still.
Young retail investors are willing to pay whatever price to have some bitcoin exposure.
GBTC is currently trading with an 11% premium
https://crypto.neotechdevs.com/GBTC.jsp
Which is ironically about the lowest premium GBTC has had since it was launched back in 2013.
Stay informed my friends.
-Doc
I suppose the younger generation can see clearly the technological effects that Bitcoin and cryptocurrencies possess. As such, more adoption for cryptos are for the better.
They are by far the biggest believers in it, that's for sure.