Bitcoin over gold, recent study reveals what millennials want

A recent collation of studies compiled by SimpleMoneyLife shows that 67% of millennials prefer holding Bitcoin to gold.

Millennials are those between the ages of 25 and 40 years. The research referenced a study by deVere Group which claimed that those in this age group see Bitcoin as a superior safe-haven asset than gold. This narrative is becoming increasingly popular in crypto cycles. Ethereum’s founder, Vitalik Buterin, in his 2020 endnote called gold “lame.” Billionaire Ray Dalio has also compared Bitcoin to a gold-like alternative.

The study confirms that Bitcoin along with other cryptocurrencies is beginning to lose its bad reputation. The digital asset is gaining popularity and several crypto critics are beginning to shift grounds.

The study goes further to make a claim in favor of Bitcoin’s rarity. Although gold is a scarce commodity, its supply remains unknown. Bitcoin, on the other hand, has a known fixed supply of 21 million tokens.

Unlike gold, we know exactly how much Bitcoin is currently in circulation and how much will be in 2050. Bitcoin is better at being scarce than gold.

In terms of distributions, there is a lot of inequality in the Bitcoin ecosystem. For a start, the industry is male-dominated. While 85.77% of males are engaged in Bitcoin communities, only 14.23% of females are interested in the digital asset. Furthermore, 2% of wallets control more than 95% of the total Bitcoin in circulation.

Sourse: investing.com

Start mining bitcoin now

Start trading bitcoin now

Category: News | Views: 119 | Added by: danyagames2007 | Tags: #Bitcoin #Bitcoi Price #BTC | Rating: 5.0/1
Total comments: 0
Name *:
Email *:
Code *:
Mega Chop is Expected in Bitcoin Market Amidst “Continued Appetite” from Big Investors (0)
Bitcoin is tens of thousands away from “overbought” territory, study suggests (0)
Bitcoin’s chances of hitting $100,000 in 2021 stumble as Kanye West tipped to buy $100m (0)
Bitcoin and Ethereum Form A Bullish Reversing Chart Pattern (0)
Bitcoin and Ethereum slow down as transaction values and fees plunge 70% (0)
Bitcoin is set to soar (0)
Traders Fear "Black Thursday" Comeback as Bitcoin Returns in March Mostly Negative, Statistics Say (0)
Bitcoin to $10,000 or $100,000 in 2021? (0)
Citigroup & Goldman Sachs: Bitcoin’s Moment Is Now (0)