You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

Nearly a third of millennials say they’d rather own bitcoin than stocks

A survey shows they might be responsible for keeping the rally in bitcoin alive.
Picture: Bloomberg

It’s become commonplace in news headlines to say millennials kill everything from romance to napkins, but now a survey shows they might be responsible for keeping the rally in bitcoin alive.

A survey by venture capital firm Blockchain Capital found that about 30% of those in the 18-to-34 age range would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks. The study of more than 2,000 people found that 42% of millennials are at least somewhat familiar with bitcoin, compared with 15% among those ages 65 and up.

Bitcoin rose more than 6% Wednesday to as much as $7,545, helping to push the value of the total cryptocurrency market above $200 billion for the first time, according to CoinMarketcap. The digital asset has soared more than 600% this year, compared with gains of 15% for the S&P 500 Index — which might explain millennials’ attraction.

While just 2% of Americans own or have owned the cryptocurrency, according to the survey, that investor base might get larger as millennials become the main investment force. At that point, US regulators may have approved bitcoin ETFs, and the derivatives market might be somewhat mature, making it easier for the new bitcoin buyers.

© 2017 Bloomberg

BUSINESS VIDEOS

COMMENTS   5

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in and an Insider Gold subscriber to comment.

SUBSCRIBE NOW SIGN IN

Things millennials love :

-Crypto currencies
-Electric cars
-Renewable energy
-Weed 😛

Remember today’s millennials will become tomorrows mainstream consumer, you can either align your investments now for that or be bitterly disappointed one day.

Hmm.. not sure I completely agree. I don’t think cryptos are a replacement for stocks, certainly a new asset class though. Another way to diversify and hopefully make some good returns.

I would also argue that most electric cars are lame, even though they offer certain benefits over petrol/diesel vehicles in terms of sustainability. But imagine having to charge your car every day/night? Laaaaame!And no growl from the internal combustion engine? Would make me a sad panda..

You’re right on point with the others though! 😉

I never said Crypto currencies will replace stocks, and I agree 100% with you, it will definitely be a new asset class.

Electric cars lame? a Tesla model S P100D might not sound as nice as a Ferrari 458 but it will leave it in a dust trail in a drag race, and the best part, it has 4 doors 🙂

Charging your car will become like charging your phone, it will become less of a hassle than it currently is to go and refill your car, also, no services, no fragile components that can break on a whim, for me at least it makes it WAY more awesome, I am willing to forgo the growl of a internal combustion engine for all the positives.

Things Millennials love even more:
Smartphones.
Themselves.
Selfies.
Instagram.
Twitter.
Themselves.
Virtual reality.
Things they hate: Real life and hard work.
If you follow them you will be bitterly disappointed one day.

I probably qualify as a millennial myself, and I have to agree with you, they are mostly not individuals you would not want to hang around with, however, whether you like it or not, they are tomorrows consumer and they will become the market, and ultimately the market decides on the goods and services it wants, whether or not you like those goods and services or even individuals becomes completely irrelevant.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTION APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING

Follow us:

Search Articles:
Click a Company: