Millennials often get the blame for ruining traditions and the established order of things, but they may well be on the right path when it comes investing. A survey has found that the next generation of investors are no longer interested in stocks, looking rather at a new technology.
Bitcoin and associated currencies are ideally suited to the millennial mindset, the same mindset that has seen them fed up with banks and irritated at the hegemony of the old money and the traditional investment options.
Now, investing for this new generation is heading towards new currencies, digital currencies.
Two sides of the aging coin
As if Bitcoin and the related cryptocurrency market needed any more validation that it is the next wave of technology and investment, a survey has shown who the key demographic is.
A 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.
The interest and trust in Bitcoin is far less is the elder generation, the generation who have been brought up in stocks and bonds, however, even that is slowly changing.
Forcing its way into the mainstream
Of course, for millennials, the mainstream is not cool, and that could well be another reason why Bitcoin is so popular among the age group. While it may seem to those in the ecosystem that Bitcoin is mainstream, it still has a long way to go.
Another survey showed that just two percent of Americans actually own Bitcoin, but there are factors afoot that are stretching that.
Wall Street is entering the waters, and getting more than just their feet wet as things like ETFs and futures start looking like a reality.
Millennials are definitely the target audience, but the announcement and implementation of investible methods to buy the digital currency could spread its net wider to elder generations.