Millennials prefer cryptocurrencies over traditional stocks

According to a recently published report, millennials invested more in Bitcoin than they did in the likes of Disney or Netflix over this year.

Grayscale Bitcoin Trust (GBTC) ranks fourth highest in the percentage of assets stored inequities across the millennial generation according to research by Charles Schwab.

People born in the late 80’s and early 90’s prefer to invest in cryptocurrencies and high-tech startups rather than in the entertainment industry. This is evidenced by the research data of the brokerage company Charles Schwab.

Millennials invest more in bitcoins managed by the Grayscale Bitcoin Trust (1.84%) than in Disney (1.68%), Netflix (1.58%) and Microsoft (1.53%). However, they are most interested in Amazon (7.87%), Apple (6.18%), Tesla (3.22%) and Facebook (3.03%).

Grayscale Bitcoin Trust is not among the top ten most popular investment destinations among either generation X or boomer investors. Currently, each GBTC share once again trades at a premium at $8.01, corresponding to spot prices above $8,000. Bitcoin itself traded around $7,409. At the same time, according to billionaire Ray Dalio, the volatility of Bitcoin does not allow to call it an effective means of accumulation.

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