Millennials ready to ditch stocks to keep bitcoin rally alive
It’s become commonplace in news headlines to say millennials kill everything from romance to napkins, but now a survey shows they might be responsible for keeping the rally in bitcoin alive.
A survey by venture capital firm Blockchain Capital found that about 30 per cent of those in the 18-to-34 age range would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks. The study of more than 2,000 people found that 42 per cent of millennials are at least somewhat ..
Bitcoin rose more than 6 per cent Wednesday to as much as $7,545, helping to push the value of the total cryptocurrency market above $200 billion for the first time, according to CoinMarketcap. The digital asset has soared more than 600 per cent this year, compared with gains of 15 per cent for the S&P 500 Index -- which might explain millennials’ attraction.
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