BTC - Millennials love Bitcoin and eventually they will hold the majority of the wealthsteemCreated with Sketch.

in bitcoin •  8 months ago  (edited)

Bitcoin is very much a Millennial story

Millennials are defined as the generation with birth dates that fall between 1981 and 1996.

That means the oldest people in the "millennial" category are 38 years old (as of this year) and the youngest are 23 years old.

As we learned from my post yesterday, they are investing more of their investable income into bitcoin (and bitcoin related products) than the two previous generations, and by a wide margin.

That post can be seen here:

https://steemit.com/bitcoin/@jrcornel/btc-more-millennials-invested-in-bitcoin-than-nflx-and-dis

Why does this matter?

Just because a particular generation loves bitcoin doesn't necessarily mean a whole heck of a lot when taken in isolation.

However, this generation (millennials) will some day inherit the vast majority of America's wealth.

Check out the current US wealth by demographic:

(Source: https://twitter.com/michaelbatnick/status/1199698111142252544)

As you might have guessed, the millennial is far down on that list.

Over the next 10-20 years millennials will be inheriting the wealth seen in both the silent and baby boomer generations.

And, with their current investing biases taken into account, where do you think that money is going to go?

(Source: https://steemit.com/bitcoin/@jrcornel/btc-more-millennials-invested-in-bitcoin-than-nflx-and-dis)

In fact, this is one of the investing thesis's put forth by Fundstrat Global Advisors on why they think bitcoin is going to be a "home-run" investment over the coming decades.

If you look at the investments millennials currently love, perhaps you can get an idea of what types of things money is going to flow into as they get older and accumulate more wealth.

At least that is the logic.

I for one think it makes a lot of sense. Very few of my friends own stocks, but some of them own bitcoin.

As they get older and have more investable income, I imagine they are always going to keep some in bitcoin and crypto.

Stay informed my friends.

-Doc

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One of the brokerage houses did a survey of the Millennials asking the preference of gold versus Bitcoin. It was 9 to 1 in favor of Bitcoin.

This not only makes me think that your view on Bitcoin is sound, the future of gold, when the older generations start passing on is in question. This generation obviously does not see gold in the same manner as the ones before it.

Demographics could be having greater impacts than ever before.

Yep, I would agree with that completely. Gold is worth $8 trillion. All of crypto less than $200 billion. That may end up flipping as the years go by.

I do believe there is a real chance this might be the case, i think at the very leas half of that 8 trilion might go into cryptos, but on the other hand, gold wil always hold vale, it has done so for 1000's of years, gold could be used as a medium of exchange for small purchases or transactions as its easy to sell gold, there will always be a jeweller or money exchange willing to buy gold from you in person.

Well this is somewhat true hey... Seeing that I am a Millennial and I do invest most if not all of my savings into cryptocurrencys I know it's not BTC persay but it's still entering the realm of cryptos

Hodl for life

Well there you go. You fit right in!

this is interesting, hope it is true that there is that much interest out there we'll have to wait and see how the tide turns!

Yes, the one variable is tastes and preferences. This is making a big assumption that millennial's taste and preference for bitcoin will not change as they get older. It may... or it may not.

Soon, there will be a multi-trillion dollar wealth transfer (inheritance), and most of it goes to the millennial generation. All that wealth will have to go somewhere, and seeing that cryptocurrencies, especially Bitcoin, is quickly becoming a sought-after asset for the younger generations to invest into, there's a good chance it'll go there.

Even Deutsche Bank, one of the premier investment banks, and wealth managers in the world, are looking positively on Bitcoin's future.