Nearly half of millennials prefer bitcoin over stocks and real estate

According to research by The Tokenist.
Faith in large financial institutions has been on the wane for more than a decade. Image: Chris Ratcliffe, Bloomberg

Some 45% of millennials prefer bitcoin over stock, real estate and gold according to new research by The Tokenist.

With this has come declining faith in large financial institutions, which has been on the wane for more than a decade.

The survey of 4 852 participants in 17 countries finds increased knowledge and growing confidence in bitcoin among all age and gender groups.

Some of the findings are surprising: 47% of respondents trust bitcoin over big banks, an increase of 29% in the past three years.

This trend appears to have been accelerated by the Covid-19 crisis. “With confidence in traditional investment instruments decreasing, bitcoin stands poised to offer investors an alternative, long-term store of value,” says The Tokenist.

Perceptions of bitcoin have changed remarkably in recent years. At various times it’s been referred to as rat poison and a Ponzi scheme, though these perceptions are changing.

Read: Bitcoin is the bubble that keeps on giving

“Bitcoin’s origins can be traced to a small group of technologists who lost faith in the banking system during the last global crisis. In 2009, reckless behaviour by the largest Wall Street banks led to widespread panic, ultimately causing the Great Recession. Many of these banks were bailed out by their respective governments and faced limited repercussions in terms of accountability or liability,” says the survey.

Read: The future of money and payments

These are the main findings of the survey:

  • Over 45% of respondents prefer bitcoin over stocks, real estate, and gold;
  • 61% of all respondents (and 78% of millennials) are now somewhat familiar with BTC (bitcoin), and 14% of millennials have owned the asset;
  • 60% of respondents feel bitcoin is a positive innovation in financial technology, an increase of 27% in three years;
  • 47% of respondents trust bitcoin over big banks, an increase of 29% in the past three years;
  • 43% of respondents, and 59% of millennials, feel that most people will be using bitcoin within the next decade;
  • In 2020, 44% of millennials report that they are likely to buy BTC in the next five years;
  • More than one in three millennials would hold onto bitcoin they are given, while a slightly smaller number (27%) would immediately sell it;
  • 39% of male millennials now have no problem with the intangible nature of BTC, and a quarter of millennials as a whole report the same attitude; and
  • Just 24% of millennials think that bitcoin is a bubble, though 50% of the over-65s do.

Read: Michael Jordaan’s crypto venture ties the knot with EasyEquities

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Shame, but that’s also not their fault

Millenials? Those people living in their parents’ basement? As if they have anything to invest…

No, millenials are 30 years old earning $300K driving around in Teslas here in Austin and they extremely excited about crypto. I have been listening to them for years and made disgusting money. The crypto train is leaving, millenials do not want to buy your lame Kruger Rands, JSE or ZAR, they dont even know what that is.

@CTexective: not surprised they don’t know about ZAR. According to National Geographic 20% of Americans can’t find the US on a map. Seriously. How will they find the ZAR?

And by the way shouldn’t you be Austinexec by now? Greetings from Cape Town. It’s still the most beautiful city in the world.

I guess Millennials also does not believe in diversification?

What was their preference “Red or Black”???

Crypto has over 6000 diversification options with significant interest bearing savings options that outstrip interest offered by banks not to mention superior capital growth.

hmm, millenials are busy raising their kids and sending them to school, and are closer to 40 years old… I think we’re talking about genZ?

Millenials 1981 – 1996

yep, they’re the parents with kids now. They ain’t in their parents basements anymore.

“Millennial” is meaningless term nowadays. Journalists need to use age ranges.

By implication Millennials are saying its better to invest in a specific money token than in an entity that generates money (in whatever the token of the day is)

I’d rather be invested in the latter.

I just love your gold bitcoin picture. If BTC had credibility of its own, why do you need to have it in gold?

Yep…it appears millennials are significantly smarter than you.

They bought R 1000 worth of BTC 5 years ago and today they have R 70 000.
What is the value of your R 1000 in shares bought 5 years ago?

You mean to say if they did buy R1,000 worth of BTC 5 years ago, it would be worth R70,000 today.

Strange how a simple logical observation rubs people the wrong way.

And then there are those clever people who uses hindsight as the basis of their confidence about the future.

@NYBoertjie, our daughter was 18 when she put here life-time saving of cR15k into BTC when it was R 3 300. Now she is 22; You do the calculation & tell me that she did the wrong thing.

I have been coaching crypto for the last 4 years and most have bought their own bitcoin/alts

Myricals ….you are proselytising

Always a problem in believing someone that does this

Leah, anything but.

I am old school with a diversified portfolio of assets.

My Daughter at age 22 is purely diversified in a variety of crypto projects that generate an income to the extent that she will never need a job.

I teach crypto projects to young adults mostly but also teach gold, silver, property and trusts. My role is merely imparting knowledge and they decide for themselves which projects are most suitable for themselves.

And I prefer blondes over brunettes. Just as irrelevant. What are the actual numbers, how much are they buying in each sector for you to say this?

Myricals, you are hillarious. I love the fact that you coach BTC. Then it seems your daughter made these investments, how about the coach?

I simply made the observation that if you choose to invest in BTC that you are effectively investing in a money token (which hasn’t done badly if you invested in it a long time ago). I would in principle rather invest in an entity like property or equities that makes profit in whatever money token is used. To me that is a much more sustainable way to invest. Rather than picking a money token, money is best used to transact. I haven’t followed the price of BTC lately but have the feeling over the last 1 year that many equities have outperformed BTC if you also had the hindsight to pick them. Gold shares maybe? Some tech stocks?

As for calculating your daughters returns, it is clear from the data you provided that you don’t know how to calculate a return, otherwise you would have at least gave enough detail so it can be calculated. How old is your daughter today? gimme a clue so I know over what period she invested.

And then there is the 6000 diversification option. WTF! Do you even know what diversification means when you invest?

I still love your hindsight confidence. Maybe I must go check out a couple of shares that would have outperformed BTC over the last 5 years or 3 years or since Dec 2017 (ouch maybe not!)

I never told you investing in BTC is a mistake, I simply stated that in principle I’d rather be invested in properties and equities. As with any un-diversified investment approach and with the benefit of hinsight I’ll be able to become extremely rich picking the best equities or property too.

The coach is well diversified into crypto, gold, silver, property; (no stocks) held in trusts on behalf of his family.

I did mention she is now 22, so that is 4 years BTC price from R3300 to cR 245 000 today.

Bitcoin is an income producing asset as are all cryptoassets. Research DeFi (Decentralised Finance), pooling, staking, mining, nodes, saving. A good place to start is binance com/ en/ earn.

Sure you can mention 2017-12 and I can mention a few as well like Steinhoff for instance.

Overall though, crypto has outperformed every single asset class worldwide measured over 5 to 10 year terms.

I do not know of any investor/analyst/fund/corporate that does not use historical data (hindsight) to forecast potential & to manage risk. But when it comes to crypto, onchain & offchain analysis are far more critical predictors than historical price.

For example, would you say that the fact that NYSE & LSE listed companies bought some $12bn in BTC this year, may have an impact on the price of BTC?

Mystical, you seem in love with your cryptos. I consider them speculative, as with any speculation, sometimes it works and sometimes it doesn’t. A good gambler knows when to quit. To me it’s clear that you don’t really understand or are in denial as to the nature of what you are advocating. This doesn’t mean you can’t make money doing so.

As for you daughters investment return in BTC. Your numbers don’t add up. There is no way se paid R3,300 for a BTC 4 years ago. The ZAR started 2016 at 16.7 was around R14/$ at year en and BTC started 2016 at around $400 and ended the year at $1,000. Please explain how your daughter paid R3,300 for her BTC. I’m all ears. Self deceit is not your friend when you invest.

Investing is not a competition as to who can get rich the quickest, it is having a disciplined aproach to get returns that are above inflation over a long period. You need to understand what you invest in and you need patient and honest with yourself all along the way. Falling in love with one share or asset class is going to either make you rich quickly or ruin you…it’s called gambling

On SA exchange, Luno, Oct 2015 she bought at R3300/BTC (look it up); 4 full years of returns.

As for gambling, go tell that to the stock exchange listed fund managers who own $12bn in BTC.

@NYBoertjie – you buy BTC at fractional ownership. It’s long been subdivided in order to account for the 21m limit as well as the price of each one.

I find it interesting though that people say there will only be 21m of them, but they can be subdivided infinitely small – what then does 1 BTC actually mean? Anyway, the world is way broader than BTC now, and BTC is (in my mind) actually been replaced by better options for crossborder payments, long term investment or DeFi.

End of comments.

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