Since the major crisis in the stock market back in 2008, traders and investors who had lost their investments or have witnessed this notorious decline, have become more cautious towards investing.
In the meanwhile, as the cryptocurrency market is emerging despite the “crypto winter” that took nearly -90% of the total market’s value, the latest study showed that millennials still have more trust in Bitcoin and the cryptocurrency market in oppose to the stock market, usually referring to the major crash of 2008.
Millennials Favoring Bitcoin and Cryptocurrency Investments Over Stock Market
According to the study carried out by eToro trading platform, out of 1000 different traders that participated in this study, 43% of millennials agreed to the general opinion of placing their trust in Bitcoin over more mature stock market.
While millennials are favoring ICOs over IPOs, the majority of traders belonging to Generation X are placing their trust in the stock market in oppose to the cryptocurrency market and Bitcoin, despite the infamous crisis that hit the market back in 2008.
Up to one third of millennials that don’t do trading also answered in favor of Bitcoin and cryptocurrency when asked whether they are more likely to invest in stocks or cryptos, while the managing director of eToro trading platform, Guy Hirsch, stated that there is a clear generation shift shown in the latest study when comparing millennials and their tendencies towards investing with Gen X and their preferences.
It appears that the values taken in consideration when it comes to millennials placing their trust in Bitcoin are related to the immutability, decentralization, promptness and the cost of operating transactions through blockchain-based environments, creating an obvious generation shift from the stock market to the cryptocurrency market.
According to Hirsch, as more investors are becoming educated on the perks of cryptocurrencies, more investors will be shifting towards BTC and the crypto market.