According to data collected by American brokerage firm Charles Schwab, the millennial generation – who were born in the 80s and early 90s – have shown a notable preference for making investments in digital asset linked offerings, as opposed to popular stocks like Apple and Microsoft.
Based on the investment preference data, the millennial generation has shown more interest in Greyscale’s GBTC Trust than the older generation, known as the Boomers. Interestingly, the younger generation – who are referred to as Generation X – seem to have shown the same investment sentiments as the boomers, not showing much interest in digital assets related stocks.
Possible Reasons
According to Business Insider, every generation exhibits key characteristics of its own, which are influenced by the era they were raised in. The millennials, who were raised by the boomers, are the first generation to grow up with access to the internet, and made their way into the working world during the most recent global economic recession.
The millennials are also reported to be the most indebted generation, despite being the most educated generation thus far. Essentially, the millennials paid a high price for their education, as the lion’s share of of their dept is an accumulation of student debt.
It is also reported that millennials, despite having similar spending habits to the generations before them, are in fact the “brokest” generation.
“Millennials are less well off than members of earlier generations when they were young, with lower earnings, fewer assets, and less wealth,” according to a study by the US Federal Reserve.
Conclusion
With the aforementioned factors taken into account, it is easy to see how the promises of Satoshi Nakamoto’s white paper, and the cryptocurrency market as a whole would be appealing to this generation in particular.
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