Millennials Are Big On Bitcoin (But Over 65s Not So Sure)

It’s become fashionable to malign millennials for killing everything from dinner dates to department stores. If the results of a recent survey are anything to go by, there’s another victim that can be added to that lengthy list – fiat currency. According to a newly released survey, over 50% of millennials have a positive view of bitcoin and are twice as likely to own it compared to other age groups.

Also read: Dennis Gartman Calls Bitcoin the ‘Millennial Answer to Gold’

Millennial Enthusiasm for Bitcoin Surpasses All Other Demographics

Over 2,000 US adults were quizzed by Harris Poll in one of the most wide-ranging bitcoin surveys to date. The poll, which was conducted between October 18th and 20th, provides a fascinating insight into how adults of all ages perceive bitcoin. It is among 18-34-year-olds however – millennials – that the greatest divergence from the rest of the population is seen.

Digital Currency for a Digital Generation

Youth might be wasted on the young as the adage goes, but bitcoin doesn’t appear to have passed them by. Not only do twice as many millennials own bitcoin as the rest of the population (4% versus 2%), almost a third claim they’re likely to buy bitcoin in the next five years, versus just 19% of all Americans.

Spencer Bogart, managing director with Blockchain Capital, stated:

“The results of the survey reinforce our conviction in the massive opportunity that lies ahead for Bitcoin.”

Bitcoin still has some way to go before it overtakes other financial assets as a desirable store of wealth however; 30% of millennials surveyed said they’d prefer to own $1k of bitcoin versus $1k of government bonds. That figure falls to 27%, 22% and 19% respectively among millennials when bitcoin is compared with stocks, real estate and gold.

Divided by Decades

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