JPMorgan found a pattern of preference between generations of investors between Bitcoin (BTC) and gold. What do young people prefer?
Bitcoin vs. Gold has been around since the beginning of the cryptocurrency. However, the last few months have forced us to choose one or the other as a haven for 2020. JPMorgan has noted that young investors are sticking with Bitcoin (BTC), but what about the rest?
This week JPMorgam released a note, accessed by Bloomberg, which found that retail investors were split in half based on generation.
Yes it is. Analysts have noted that older, more advanced investors have turned to gold, while so-called "millennials" have chosen to flock to Bitcoin.
This finding is certainly interesting as it shows a significant divergence in preferences for each generation.
As already mentioned in CryptoTrend, there are BTC vs. Oro not one who is necessarily and strictly better than the other. Each has advantages and disadvantages, which indicates that in the end the investor decides according to his preferences.
"Older cohorts prefer gold while younger cohorts prefer Bitcoin," wrote the team of analysts, led by Nikolaos Panigirtzoglou.
However, the pattern of preference between generations differs not only in terms of Bitcoin vs. Gold.
JPMorgan noted that millennials favor stocks, especially technology. Meanwhile, older investors have decided to sell their shares.
"The oldest cohorts continued to put their excess liquidity into pension funds, whose buying remained strong in June and July," they noted.
Bitcoin and its rise in price
BTC's recent rebound and its uptrend could mean a big boost that could lead young people to trust the cryptocurrency again.
However, gold was not left behind after it hit its all time high.
Apparently, due to the stimulus packages announced by the governments of the power countries, investors were forced to resort to alternative means such as Bitcoin or gold.
The momentum comes from concerns about possible inflation. So many investors have viewed Bitcoin as the perfect solution to the problem as it is the opposite.
While there may be a pattern of preferences, we in the crypto community have seen larger and larger investors choose to join after growing interest in cryptocurrencies.
In fact, in early July, the fashion app found that Bitcoin purchases by boomers and Gen X users had increased significantly.
Although JPMorgan has been able to find a pattern of preference among investors of every generation, Bitcoin is opening its doors to all investors and more and more people are trusting cryptocurrency.