Millennials Prefer Bitcoin over Traditional Stocks and Bonds

Millennials Prefer Bitcoin over Traditional Stocks and Bonds according to a recent 2017 Harris Poll.

Millennials prefer bitcoin over other investments. These young adults are ages 18 to 35, and they are more confident in cryptocurrency than traditional stocks, bonds, gold, and even real estate.

The survey, which was conducted online by Harris Poll among over 2,000 American adults ages 18+ found:

• 30 percent of Americans are at least somewhat familiar with Bitcoin. Bitcoin awareness is significantly higher among younger demographics: 42 percent of millennials described themselves as at least somewhat familiar with Bitcoin versus just 15 percent for those ages 65+.
• Millennials, particularly men, may turn to Bitcoin as a replacement for traditional assets.
  • 30 percent of millennials would rather own $1,000 worth of Bitcoin than $1,000 worth of government bonds (43% of male millennials vs. 21% of millennial women)
  • 27 percent of millennials would rather own $1,000 worth of Bitcoin than $1,000 worth of stocks (38% of male millennials vs. 19% of millennial women)
  • 22 percent of millennials would rather own $1,000 worth of Bitcoin than $1,000 worth of real estate (26% of male millennials and 19% of millennial women)
  • 19 percent of millennials would rather own $1,000 worth of Bitcoin than $1,000 worth of gold (31% of male millennials vs. 10% of millennial women)

In 2015 a thousand dollars would have bought you 3.5 bitcoin, worth over $50,000 today.  A thousand dollars of Etherium in late 2016 is worth $165,000 right now at the time of this writing.  There is a lot of new wealth being acquired by this younger generation and their just getting started. Right now around 1% of the entire world is even aware of Bitcoin and the altcoins.  The industry is still in the innovation stages, soon to move into the early adopter stage where at least 3% will become aware.

Millennials prefer bitcoin, and right now with the right information, research, and discipline, they can become millionaires.  But becoming wealthy and learning how to keep it are two different disciplines.  In fact, it’s much harder to keep it than get it!

 If someone gives you $1,000,000 you’d better become a millionaire so you can keep the money. Success doesn’t want to hang around incompetent people – Jim Rohn

This is why working on yourself, through personal growth and developing a millionaire mindset is more important than the wealth itself. I’ve met financially rich people with a poverty mindset. Unfortunately, there will be a lot of Bitcoin losers than winners because people will fail at developing themselves to grow into their new lifestyles.

I wrote an article on this blog a while back. Earl Nightingale in his Strangest Secret lecture identifies success as the progressive realization of a worthy ideal.  Take a few minutes and listen to his wisdom on this topic. Develop yourself while you’re accumulating wealth because without a millionaire mindset, you won’t keep it.

Bitcoin Stats Source Harris Poll  

Image source – Flickr Creative Commons