A survey revealed that Millennials prefer Bitcoin over other investment assets

While Bitcoin encountered a lot of turmoil in the past three years, people's perception of the primary cryptocurrency has improved significantly. Highlighting that Millennials prefer Bitcoin, a recent study revealed. By comparing current data with previous years, he concluded that more people are willing to trust him over traditional financial institutions and assets, especially after the COVID-19 pandemic.

Tokenist compiled the survey from nearly 5.000 participants in 17 countries. The company asked various questions about Bitcoin, the current global financial situation, people's trust in traditional financial institutions, and more. Comparing the data with previous studies from 2017, this year's results demonstrated Bitcoin's growing popularity among participants. For example, nearly half of those surveyed would prefer to hold $1.000 worth of BTC over bonds, real estate, and gold. This represents a 13% increase over the past three years.

Millennials want Bitcoin

When categorizing participants into age groups, millennials prefer bitcoin, and they emerge as the most fond of the largest cryptocurrency by market capitalization. “Although confidence in BTC fell marginally in the 65+ age group. Among millennials, confidence has increased dramatically against three asset classes: government bonds, real estate, and gold. However, there has been a slight increase in confidence in stocks versus BTC.” – The post reads.

Another report from Charles Schwab supported this narrative last year, indicating that the Grayscale Bitcoin Trust (GBTC) is the fifth most used investment vehicle among millennials. Regarding familiarity, the overall conclusion from analyzing the 2017 and 2020 results is that people have substantially increased their knowledge base about Bitcoin.

The Tokenist also asked all participants if “Is Bitcoin a positive innovation in fintech?” This came across as a somewhat relevant question, especially after the indecisive responses from the 2017 surveys. This time around, however, many more people “strongly agreed” with BTC’s positive impact.

Attitudes toward Bitcoin are becoming more defined and more positive. 60% of respondents felt that Bitcoin is a positive innovation in financial technology, an increase of 27% in three years.

Interestingly, the most significant growth came from female millennials and men and women over the age of 65. The older generation seemed “surprisingly more informed” and positive in 2020. The report suggested that the rise in confidence in Bitcoin is primarily due to “recent volatility in assets held by large banks and increased professionalization of the BTC sector.”