Millennials Prefer Bitcoin!

JPMorgan Chase analysts have arrived at the conclusion that the #COVID19 pandemic has brought to light investment trends. While older generation investors were buying good ole’ gold, Millennials were scouting for alternative assets. One of these assets turned out to be Bitcoin.

JPMorgan Chase strategist Nikolaos Panigirtzoglou says that gold and Bitcoin have been getting some strong inflows over the past 5 months.

Consequently, the increased interest has affected the market value of these assets.

Stock market has bounced back 46% since its crash in March, while gold gained 30% since the start of the year. At the time of writing, Bitcoin ran 133% since mid-March.

Interestingly, Grayscale Investments’ Managing Director Michael Sonnenshein has mentioned how part of a $68 trillion investment capital that will move from one generation to another will be invested into the first cryptocurrency.

By the way, a survey by Tokenist has shown that 51% of Millennials trust Bitcoin more than banks.

Peter Brandt, a legendary trader and technical analyst went even further, recommending Millenials to invest 10% of their disposable income into Bitcoin.