Interest For Bitcoin Versus Gold Is Increasing For All Ages

The interest for bitcoin versus gold is increasing among all age groups as per the World Gold Council reported in the high-profile Drop Gold campaign arguing that the investors believe that crypto is risky and speculative but the numbers don’t seem to support this assertion. In today’s bitcoin news we take a closer look.

The council released the survey results of more than 18,000 people in India, China and the
The US but also Canada, Russia, and Germany, all designed to provide ‘’valuable insights into what, why, where and how many people purchase gold, in the context of retail investment and luxury goods in general. The research found that more than half of the interviewed retail investors purchased gold at some point in their lives.

More than half of the investors trusted gold more than ‘’currencies of countries’’ and the trust in gold seems to be the strongest in India at 75 percent. More than 60 percent of the investors trust gold for its store of value properties and half of the respondents said that they will buy gold in the future as an investment. However, the number seems to drop when it comes to those aged 18-38 and the council concluded that the demographic differential only shows that younger generations are less-risk averse and they will likely adopt a long-term approach to investing.

The council also noted that 18 to 24-year-olds took a very short-term approach to invest and according to the report, they were most likely to say ‘’I don’t really believe in investing in the long term, I want to live for today.’’ The industry’s market development organization found out that more than 60 percent of the investors who had bought gold in the past would do it again. This figure is not correlating with the findings for cryptocurrencies, funds, and stocks at about 40 percent.

The interest for bitcoin is increasing and according to Greyscale and its Drop Gold campaign, the full report dismisses cryptocurrencies as a speculative option for the youngest investors of the GEN Z:

 “Gen Z’s live-for-today, the risk-taking attitude is most evident in their exposure to other investments, rather than in the exclusion of gold, and one asset stands out as featuring more highly in their portfolios than those of older investors: cryptocurrencies. The role cryptocurrencies play in their portfolio is significantly skewed towards short-term and speculative needs, in contrast to gold which is skewed towards long-term and wealth preservation needs.’’