Bitcoin Beats Netflix And Microsoft For Millennials—But Not Amazon, Apple, Tesla Or Facebook


Bitcoin and cryptocurrency has long been known to appeal more to younger generations than older ones (though there are some notable exceptions).

Meanwhile, the bitcoin price has been boosted in recent years by adoption from the traditional financial services industry and this is expected to increase as Millennials (aged between 25 and 39) and Gen Z (those born between 1996-2010) become financially mature.

Now, a report has found Grayscale Investments Bitcoin Trust, a publicly tradable bitcoin and cryptocurrency investment vehicle, is among the top five equity holdings for Millennials, next to technology giants Amazon, Apple, Tesla and Facebook—and ahead of investor darlings Netflix and Microsoft.

The Grayscale Investments Bitcoin Trust, which recorded inflows of $255 million for the third quarter, up three-fold on the previous quarter, is also more popular than stocks of Warren Buffett’s conglomerate Berkshire Hathaway, movie studio Walt Disney, and China’s biggest online retailer Alibaba, according to the report from U.S.-based bank and stock brokerage Charles Schwab.

The Grayscale Bitcoin Trust was found to be held by 1.84% of Millennials surveyed by Charles Schwab, with Netflix at 1.58% and Microsoft at 1.53%.

Elsewhere, online retailer Amazon and iPhone-maker Apple were found to be popular across the generational divide, with the two U.S. tech giants holding the top two spots for all three groups.

Google’s parent company Alphabet was notably absent from the list of company stocks held by Millennials.

The report chimes with research out earlier this year that found there’s a growing interest in bitcoin and cryptocurrency investments amongst Millennials and younger generations as they deal with the long-term effects of the global financial crisis and a lack of trust in the traditional financial services sector.

Earlier this year, Grayscale Investments launched a campaign called #DropGold, aiming to make “investment portfolios to reflect that bitcoin has become digital gold for today’s forward-thinking investors.”

“There is a generational shift in how individuals are approaching investing. We strongly believe that investments in gold will be reallocated to bitcoin as Baby Boomers begin transferring their wealth to a younger generation of investors, one that wasn’t raised on the gold standard,” said Barry Silbert, founder and chief executive of Digital Currency Group and its subsidiary Grayscale Investments, said at the time.



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