Bitcoin has surpassed gold in popularity among younger investors.

Bitcoin has now established itself as the digital gold standard, particularly among youthful investors.

Bitcoin has beaten gold for years and has climbed far ahead of inflation, making it one of the most popular investment vehicles for individuals seeking high enough returns to offset inflation. Essentially, it has quietly but steadily become the holy grail for investors.

It has been simpler for younger investors to get into BTC than for older generations. This is due in part to their greater proficiency with technology, as well as the higher hurdles to entry when it comes to investing through traditional channels. This is why it is currently one of the most popular investments among Millennials and Generation Z, who have chosen Bitcoin as the new gold.

Jeremy Siegel, a finance professor at the Wharton School, presented his opinions on the acceptance of digital assets by younger generations of investors. These investors have taken to bitcoin like a fish to water, and its rise has had a significant impact on their choice to enter the market.

During a Squawk Box interview, the professor told CNBC that bitcoin’s effectiveness as an inflation hedge has allowed it to supplant gold in the eyes of these younger investors.

The professor said:

 “Let’s face the fact, I think Bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold. Digital coins are the new gold for the Millennials,”

Furthermore, gold has been underperforming, with the previous year being one of the worst for the asset, with a decline of roughly 5%. This performance has demonstrated that gold is no longer an effective inflation hedge, as it was in the 1970s.

The number of younger people participating in bitcoin and other cryptocurrencies has increased over time. According to an analysis, around 30% of millennials polled chose to invest in BTC, citing factors such as limited supply and rising demand.

According to a deVere poll, by December 2020, two-thirds of all millennials stated they preferred digital gold. This figure has risen dramatically in recent years.

According to a CNBC study conducted towards the end of 2021, more than half of all millennial millionaires had at least half of their wealth in cryptocurrencies such as bitcoin, with intentions to increase their holdings over time.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

Coincu News