Millennials choose bitcoin as a part of their retirement plans according to the latest research by Charles Schwab that we have in our bitcoin news today.
According to the research, the benchmark cryptocurrency is the number one choice for millennials as a retirement plan. In the brokerage firm’s industry, number one benchmark on retirement portfolio participant investment activity in the brokerage accounts, a breakdown of individual equity holdings among American Baby Boomers, Gen Xers and Millennials were compared.
While Apple and Amazon dominated the top two holdings as a percentage share of equities among the groups, Grayscale Bitcoin Trust was the number five choice for millennials which represents up to 1.84 percent of the equity holdings. GBTC was even more popular equity holding that stalwarts Berkshire Hathaway, Netflix, Alibaba, Microsoft and Disney among the generation. Millennials choose BTC and Berkshire Hathaway was the third most popular holding among the Gen X investors and boomers.
As per the BTC data are taken from the Q3 of the year, we can see that Blockchain Capital Blog’s found:
“Propensity [to own crypto] peaked among younger respondents at 42 percent.” The Harris Poll last month found that among those aged 18 to 34, “nearly 1 in 3 prefers Bitcoin to government bonds, more than 1 in 4 prefers Bitcoin to stocks, nearly 1 in 4 prefers Bitcoin to real estate, and more than 1 in 5 prefers Bitcoin to gold.”
With Charles Schwab’s findings regarding retirement savings, Grayscale Investments had an award-winning Drop Gold campaign and BTC was seen as the digital gold among the younger investors. As per other reports, millennials are likely to choose a crypto asset such as BTC if a recession strikes harder. The fear of recession has increased around the world. The traditional indicators for recession have started to show up clearly since the US treasury curve for the two-year and 10-year bonds has officially inverted starting from 2007. Also, the gold has started to rally as the stocks topped out. The global PMI readings also started to drop below 50 showing signs of recession among many other indicators. What is also concerning is that this is coming to many regions of the world and they are slowly developing chaos starting from the US-China trade war, the Hong Kong protests and the massive hyperinflation in Venezuela.
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