Millennials are turning out to be the most participatory population within the cryptocurrency sector, as BanklessTimes data depicts. Unsurprisingly, their perspectives on bitcoin and altcoins are more open-minded when compared to those of older generations.
The Biggest Factor in This Opinion is Millennials’ Familiarity with Technology
Jonathan Merry, the CEO of BanklessTimes, recently noted that Bitcoin is a critical investment asset for millennials due to its promise of financial autonomy and diversification in times of economic instability. Millennials (born between 1981-1996) have continually shown an inclination toward digital technology compared to Baby Boomers and Generation X, making them more likely to invest in BTC than older generations, who tend to be skeptical about cryptocurrency innovations.
According to the survey results, most millennials are convinced that bitcoin will become a part of everyday life in the upcoming years. In addition, they view it as being more dependable than conventional currencies such as the dollar and euro due to its decentralized nature and finite supply cap – features that have made this asset seem like a safe bet for them.
Despite the Bear Market, Millennial Enthusiasm for Bitcoin Remains Undiminished
A study conducted in 2021 revealed that almost half of the millennial millionaires had allocated a significant amount- 25%-of their wealth into cryptocurrencies. Additionally, 36% and 51% of millennials and Generation Z, respectively, expressed willingness to receive part of their salaries as bitcoin payments when it was valued at around $65,000 (near its all-time peak price) in November 2021. This clearly denotes people’s rising interest in digital currencies!
Despite the bear market in 2022, millennials and Gen Zers remain enamored with cryptocurrency assets. An Alto survey from last summer revealed that 40% of U.S. millennials are HODLers – viewing crypto as a more attractive investment option than mutual funds. Furthermore, 45% of Millennials and 46% of Gen Z contemplated investing digital assets into their retirement plans; according to Charles Schwab’s survey, almost half had already taken action outside their 401(k) accounts!
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