'90% of millennials prefer Bitcoin over gold, it is a landslide'

24 May, 2019 | Updated: 24 May, 2019
by Joeri Cant
Bitcoin
'90% of millennials prefer Bitcoin over gold, it is a landslide'

Nate Geraci, the president of the ETF Store, stated during an ETF IQ segment on Bloomberg, that 90% of the millennials prefer Bitcoin over gold.

The president of the ETF Store, Nate Geraci, told Bloomberg's Scarlet Fu, Eric Balchunas, and Carolina Wilson, that Bitcoin is clearly preferred over its gold counterparts by millennial investors.

'If you talk to, primarily millennials, and ask them which they prefer, Bitcoin or gold? It is a landslide', he said.

'It is not even close! It is like 90% prefers Bitcoin.'

Geraci's comments are supported by a recent study conducted by investment platform eToro which revealed that almost half of millennial traders have more faith in cryptocurrency exchanges than they do in the United States stock market, and by another market study among 1,202 adults, conducted by the research firm YouGov, that revealed that almost half of the American millennials are ready to ditch the US dollar and use cryptocurrency instead.

It won't come as no surprise that the #DropGold TV commercial which was broadcasted all over the US, and basically pushes the idea that gold is the investment of yesterday, while digital assets, like Bitcoin, are the investment for the future, is really well received by young investors.

So much even, that just a few days after the launch of the #DropGold TV commercial, Frank Holmes, CEO of US Global Investors, felt the need to come forward and urge millennials to not abandon gold for Bitcoin.

He added that he thinks most young people don't understand the historical importance of gold:

'[Millennials] should do their homework, they should open up a history book on why gold is so significant… why the great ‘love trade’, that if you love your country you should have gold in reserve. If you have a crisis, your paper money goes down in tremendous value,” he said. “Gold is what bailed out Britain, getting it over to Canada, and then trading to get weapons from America, it was gold that did it.'

Somehow we think that these kind of 'patronizing' messages, won't do the trick ...

And while almost all millennials love themselves some Bitcoin, their grandparents clearly don't.

A new survey by Gold IRA Guide revealed that less than 3% of American retirees own some amount of Bitcoin, while 57% has absolutely no interest in investing in BTC ... ever!

You gotta love those generation 'conflicts'.

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