According to a BanklessTimes survey, 67% of respondents aged 27-42 regard bitcoin as a safe asset.
A previous studies, millennials are among the most active demographic groups in cryptocurrency and have a more positive view than older generations.
According to Jonathan Merry, CEO of BanklessTimes, the primary cryptocurrency is an important investment tool for millennials since it provides financial freedom and helps them to diversify during times of economic turmoil.
Those born between 1981 and 1996 are more open to digital technologies and are more inclined than Generation X and Baby Boomers to deal with BTC.
Older people continue to be conservative, preferring fiat currency and voicing distrust toward the crypto sector.
The majority of millennials polled believe bitcoin will become mainstream in the next years. They also consider it to be a more effective monetary tool than the dollar, euro, or any other national currency.
The asset’s decentralized nature and low supply cap appear to be the most important benefits for the demographic group to consider it a safe haven.
Since bitcoin is outside the reach of central banks, it is not subject to fraudulent monetary policies imposed by governments.
Due to its maximum production of 21 million coins, several people thought it might be used as a hedge against inflation. If demand remains constant or increases, scarcity may enhance the asset’s USD valuation in the future.
During the COVID-19 crisis, however, numerous central banks issued massive quantities of money to help households and closed businesses.
Among other things, the shift caused record inflation in numerous countries. The rate in the United States reached 9.1% in June of last year, a four-decade high.
Another 2021 research found that over half of millennial millionaires have invested at least a quarter of their fortune in cryptocurrencies.
In November 2021, 36% of millennials and 51% of Generation Z were willing to receive a portion of their income in bitcoin.
The principal cryptocurrency was trading at $65,000 at the time (quite close to the all-time high of around $70K).
Notwithstanding the 2022 weak market, the demographic group retained an interest in the asset class.
According to a recent Alto survey, 40% of US millennials are HODLers. They also consider cryptocurrency to be a more enticing financial option than mutual funds.
Furthermore, 45% of millennials and 46% of Generation Z have considered investing in digital assets as part of their retirement strategy.
According to a Charles Schwab survey, nearly half of those polled have already jumped on the bandwagon outside their 401(k) accounts.
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