CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$28,267.00
  • ethereum
    ETH$1,727.22
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Millennials Prefer Bitcoin Over Gold, Real Estate, and Government Bonds, Survey Says

    Millennials Prefer Bitcoin Over Gold, Real Estate, and Government Bonds, Survey Says

    Author: Jordan Lyanchev

    Last Updated Nov 14, 2021 @ 12:21

    While Bitcoin encountered lots of turbulence in the past three years, people’s perception regarding the primary cryptocurrency has improved significantly, a recent study revealed. By comparing data from 2017 and April 2020, it concluded that more people are ready to trust it over traditional financial institutions and assets, especially after the COVID-19 pandemic.

    2017 Vs. 2020 Millennials Love Bitcoin

    The survey complied among nearly 5,000 participants in 17 countries. The company asked various questions regarding Bitcoin, the current financial situation worldwide, people’s belief in traditional financial institutions, and more.

    By comparing the data with a few previous studies from 2017, this year’s results demonstrated Bitcoin’s growth in the eyes of the participants. For instance, nearly half of respondents now would rather own $1,000 in BTC over bonds, real estate, and gold. This represents an increase of 13% in the past three years.

    By classifying the participants in age groups, millennials (born in the early 1980s to mid-1990s) popped up as most fond of the largest cryptocurrency by market cap.

    “Although confidence in BTC dropped marginally in the 65+ age group, among millennials confidence has increased dramatically against three asset classes: government bonds, real estate, and gold. There has, however, been a slight increase in confidence in stocks against BTC.” – reads the paper.

    Another report by Charles Schwab supported this narrative last year, indicating that the Grayscale Bitcoin Trust (GBTC) is the 5th most used investment instrument among millennials.

    As far as familiarity goes, the overall conclusion from analyzing the 2017 and 2020 results is that people have increased their knowledge base of Bitcoin substantially, as the graph below illustrates.

    Is Bitcoin Positive For The World?

    The survey also asked all participants if “Bitcoin is a positive innovation in financial technology?” This appeared as a somewhat relevant question, especially after the indecisive answers from the 2017 surveys. This time, however, a lot more people “strongly agreed” with BTC’s positive impact.

    “Attitudes toward BTC are becoming more definite and more positive. 60% of respondents felt that Bitcoin is a positive innovation in financial technology, an increase of 27% in three years.

    In 2017, 40% of respondents felt unable to assess whether the technology was a positive financial innovation. Increased familiarity with Bitcoin has convinced many that it is a positive force.”

    Interestingly, the most significant growth came from female millennials and men and women aged over 65. The elderly generation appeared “strikingly more informed” and positive in 2020.

    Bitcoin Vs. Banks

    One of the essential questions for every Bitcoin proponent is whether or not BTC can replace traditional financial institutions such as banks. The 2020 survey touched upon this topic by asking, “if you had to choose, which of the following is more trustworthy – Bitcoin or big banks?”

    “There has been a significant loss of trust in traditional banking institutions over the past three years, and Bitcoin has benefited from this. 47% of respondents trust Bitcoin over big banks, an increase of 29% in the past three years.”

    Somewhat expectedly, the largest growth is visible among millennials. Contrary, only 7% of participants aged over 65 years have expressed trust in Bitcoin over big banks as this level “has stayed essentially constant since 2017.”

    The report suggested that the trust increase in Bitcoin is primarily because of the “recent volatility of assets held by big banks, and the increased professionalization of the BTC sector.”

    This article was first published on Jun 21, 2020 

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • bitcoin_gold
      You Want To Predict Bitcoin's Price? Look At Gold
    • bitcoin_gold
      Analyst: Why Bitcoin Should be Priced in Gold Instead of USD
    • bitcoin_gold
      Bitcoin Price Could Triple Even After a Modest Switch From Gold, JP Morgan Says
    Tags: Bitcoin Survey
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$28,267.00
  • ethereum
    ETH$1,727.22
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    We’re Still the Most Compliant Crypto Exchange Today: Binance’s New CMO Sheds Light On Its Urgent Challenges (Exclusive)

    We’re Still the Most Compliant Crypto Exchange Today: Binance’s New CMO Sheds Light On Its Urgent Challenges (Exclusive)

    Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview)

    Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview)

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    DeFi Without Native Rights Is Dead

    DeFi Without Native Rights Is Dead

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!