Young investors are interested in Bitcoin, while the elderly prefer gold, according to JPMorgan strategists led by Nikolaos Panigirtzoglou.
Bitcoin or Gold?
As reported by Bloomberg today, JPMorgan strategists also noted that while Generation Y preferred technology stocks, older investors sold stocks and bought bonds. Due to uncertainties in the global economy and the weakening of the US dollar in recent weeks, both gold and Bitcoin have appreciated significantly. The correlation between the precious metal and the largest cryptocurrency by market capitalization has also begun to increase.
On the other hand, the research, whose results were published by mobile application Mode in July, found that Baby Boom Generation and Generation X's bitcoin purchases increased during the Pandemic. It was noted that Bitcoin investments in both age categories doubled from month to month. According to the data, the increase was 2.24 times in February-March, 4.49 in February-April, and 8.88 times in February-May. The growth rate doubled each month compared to the previous month.
Yet the old mass values more gold, which has been around for a long time and has proven itself over time. In this audience, Bitcoin is still seen as new and foreign.