Bitcoin tops the millennial investment preferences, a report by Charles Schwab reveals

By Roberto D. | CryptoFarm | 31 Jan 2020

Charles Schwab, a bank and stock brokerage firm based in San Francisco, 1971 and currently ranked 13th on the list of major US banks (as well as one of the largest brokerage firms in the United States) has released a report on millennial preferences ( those born between the early 80s and the late 90s) which shows that Bitcoin is by far the most popular investment in this age group; one of the most interesting aspects of this analysis is that it reveals how 84% of the assets held as shares by Schwab are destined for the GBTC (acronym for Grayscale Bitcoin Trust, a digital currency investment product that individual investors can buy and sell in your brokerage accounts).

Among the millennials, as reported by Schawab, GBTC is currently a more coveted product than the actions of giants such as Netflix, Disney, Microsoft and Alibaba, a trend that does not seem to involve older investors (the so-called baby boomers) and more young people (generation Z, i.e. those born after 2000).

As inevitably, wealth will begin to flow from the hands of baby boomers to those of millennials, therefore, it is inevitable that the success of bitcoin (also in terms of prices) will grow; In addition, several analyzes have been circulating for some years which seem to testify that among the younger generations in the United States bitcoin is perceived as a more reliable investment than even a degree.

Attention, here we don't talk about the importance of education, which is obviously out of the question, but simply about the fact that, with what it costs to graduate in the United States, many young people start to find it more advantageous for their future to allocate their money to investing in bitcoin instead of investing it in a degree; this obviously does not mean that young Americans intend to give up education, but simply that they begin to think that they can give up their educational qualification.

A trend that, outside the field of cryptocurrencies, we have been recording for quite some time everywhere, with the number of graduates continuing to decline; obviously the fact that the new generations renounce their qualifications does not mean that they also renounce education, as is known, in fact, today it is possible to follow online degree courses also from prestigious faculties (for example I mention MIT) which obviously do not provide any educational qualifications that can be spent but which in any case allow those who follow them to achieve the same skills as those who, by paying a fee, can count on the famous "piece of paper".