Millennials’ Safe Haven for Financial Protection in Uncertain Times: Bitcoin
According to a recent BanklessTimes poll, many millennials between the ages of 27 and 42 believe that bitcoin is a safe investment choice. According to the poll, 67% of participants think that the main cryptocurrency offers financial security and enables them to diversify their portfolios during uncertain economic times.
Some of the primary elements that appeal to this population include the decentralized structure of bitcoin and its restricted supply ceiling. The study’s findings show that many millennials believe cryptocurrencies are superior to conventional currencies like the dollar or the euro as means of exchange.
Another poll conducted in 2021 revealed that over half of millennial millionaires have a sizeable amount of their money invested in cryptocurrency. In addition, a sizable portion of millennials and members of Generation Z were amenable to getting some of their pay in bitcoin. This cohort still has a significant interest in the asset class despite the bear market in 2022.
Many central banks printed a lot of money during the COVID-19 crisis to help companies and households. This has caused inflation to reach record levels in numerous nations, reaching a four-decade high of 9.1% in the USA in June 2021.
According to a poll conducted by Alto last summer, 40% of US millennials had held bitcoin for a long time. Additionally, nearly half of millennials and members of Generation Z are contemplating include investments in digital assets in their retirement plans, according to a Charles Schwab poll.