If you’re a millennial, your asset portfolio is bound to be vastly different from the usual mix of investments preferred by generations before you. Sure, you will still have some bonds and stocks thrown into the mix, but chances are you will also own a particular time of asset that your predecessors do not – cryptocurrency.
In fact, the popularity and acceptance of cryptocurrencies such Bitcoin, Litecoin and Ethereum as a mode of payment and investment assets will only increase in the future. In fact, cryptocurrencies will gradually be easing itself into mainstream use largely due to the appetite of millennials. In fact, projections are stating that by 2018, about a third of millennials will own cryptocurrency.
CRYPTOCURRENCIES REMAIN VERY POPULAR
It is evident the recent Bitcoin price growth has attracted a lot of attention over the past year. With its value soaring to new heights, everyone wants to ensure they are on the Bitcoin train before it leaves the station. At the same time, one has to acknowledge there may not be too many more Bitcoin price gains in the next few weeks and months, although anything can happen in the world of crypto. Most people will acknowledge this ecosystem is about so much more than Bitcoin, though, as the major altcoins have appreciated in value as well.
Thanks to the Millennials, things will get very interesting moving forward. Right now, around 5% of this demographic has already invested in various cryptocurrencies, which is a more-than-solid number already. However, this percentage will keep on growing, and it is expected that nearly 33% of all Millennials will hold at least one cryptocurrency by the end of 2018. Which currencies those will be exactly remains to be determined.
London Block Exchange recently performed a study to determine how this demographic feels about different cryptocurrencies. While Bitcoin is still incredibly popular, most people also acknowledge 2018 may very well be the year of prominent altcoins. How high these values can soar is anybody’s guess, though, as most major currencies have seen major gains this year. No one will even come close to challenging Bitcoin, although it is evident the world’s leading cryptocurrency is far from perfect in its current form.
Millennials are turning to cryptocurrency because it is more attractive than traditional investments. Moreover, a large portion of this demographic feels left behind by these traditional options. Neither properties nor pensions are necessarily all that profitable for the younger generation to invest in right now. Pensions may not even be around by the time most Millennials reach retirement. Things are not looking all that great in the world of traditional finance right now; that much is evident.
Combine this lack of appeal with the general distrust most Millennials have for banks and financial institutions, and it only becomes clearer why cryptocurrencies will continue to surge. There is a vast difference between the younger generation’s view of money and finance and how older people perceive them right now. Whether or not this means we will see an even larger influx of new cryptocurrency investors remains to be seen. For now, it seems such growth is almost inevitable.
There is also a general sense of regret among Millennials for not having bought into cryptocurrency sooner. Rest assured a lot of people around the world share this sentiment, as all values have soared beyond people’s wildest expectations. Although it remains to be seen what the future holds in regard to various cryptocurrencies, things may certainly intensify over the next few months as Millennials continue to invest in these markets.
via The Merkle