A new survey from one of the world’s leading financial advisory firms, advising on over $10 billion in client capital, claims that two-thirds of its millennial customers far prefer Bitcoin over precious metals as the ideal safe haven asset.
And in 2020 as the world goes almost entirely digital, millennials are being proven right. Gold fund flows are pouring into crypto, and the difference in ROI is substantial. Here’s why this trend is only going to continue, as the most dominant demographic begins to take over the world’s wealth, and with it, the power to influence future outcomes.
DEVERE SURVEY: TWO-THIRDS OF MILLENNIALS FEEL SAFER WITH BITCOIN OVER PRECIOUS METALS
In the past, comparisons were drawn where the generation of investors born in the early-’80s through the mid-’90s preferred crypto over stocks, but the latest study from financial advisory firm deVere Group reveals they also prefer Bitcoin over gold, two to one.
That’s not to say that millennials are opposed to gold, but that they see the benefit in a digital version of the precious metal far more useful, and therefore valuable.
Gold is losing a support level that could resulting another 90% drop against Bitcoin | Source: XAUBTC on TradingView.com
HOW DIGITAL GOLD COULD REPLACE THE WORLD’S OLDEST MONETARY STANDARD
Gold cannot be stored or moved easily, which is paramount to the coming all-digital, decentralized future. A recent example where the Dutch central bank moved tonnes of gold only kilometers away, cost a near fortune to coordinate with an armed convoy to protect the exposed monetary instrument.
So while Boomers might have trouble wrapping their heads around digital gold, cryptography, and blockchain, the benefits are what millennials are drawn to, and with that age group taking over the workforce and the world’s wealth, their vote toward Bitcoin will count the most.