According to an executive at Morgan Stanley, young and adventurous people are more likely to choose cryptocurrencies, while older investors stick to more traditional assets.
In one interview September 8 with CNN anchor Julia Chatterley, the head of emerging markets and chief strategist at Morgan Stanley, Ruchir Sharma explained that the generation gap in investing is causing many millennials to choose Bitcoin (BTC) instead of gold.
“I think some of the older (investors) are still buying gold, and millennials are buying more bitcoin and cryptocurrencies.” Sharma said.
Part of the efforts of the younger generation to opt for cryptocurrencies This could be related to Sharma’s prediction that inflation could hit the United States in 2021. He cited a number of monetary and tax measures taken by government officials manage the economic consequences of the coronavirus pandemic.
“There is a persistent feeling that given that central banks are printing so much money, there is a search for alternative assets.”
“Having around 5% of your investment portfolio in gold is not a bad idea,” said the Morgan Stanley Executive. “If you’re a little more adventurous and probably more demographic, then obviously you’re opting for Bitcoin and other cryptocurrencies.”
Crypto-loving Twitter users gave us a real-time example yesterday when the famous gold bull, Peter Schiff, take an online survey to decide who is most trustworthy when it comes to financial advice: A 57 year old gold backer with 30 years of experience as an investment professional or an 18 year old unemployed student who prefers Bitcoin. Of the 82,906 respondents, 81.3% chose “the boy”.