• A study by BanklessTimes revealed that 67% of millennials consider bitcoin a safe haven.
• Millennials are more open to digital innovations and are more likely to deal with BTC than older generations.
• They see BTC as a better monetary tool than the dollar, euro, or any other national currency due to its decentralized nature and limited supply cap.
Millennials View Bitcoin as Safe Haven
A recent survey conducted by BanklessTimes reveals that two thirds of millennials aged 27-42 consider bitcoin a safe haven asset. These figures show that the younger generation is much more open minded towards cryptocurrencies than older generations and believe it can provide financial freedom in times of economic uncertainty.
Millennials Embrace Digital Innovation
The poll also shows that millennials are leading the charge when it comes to embracing digital innovation and dealing with cryptocurrency assets like Bitcoin. In contrast, many Baby Boomers and Generation X individuals remain predominantly conservative by sticking to traditional fiat currencies and expressing skepticism towards the crypto sector.
Advantages of Bitcoin Over Traditional Currencies
Most participants in the survey believe that Bitcoin will go mainstream in the near future, seeing it as a superior monetary tool when compared to traditional currencies such as the dollar or euro. The primary advantage behind this sentiment is mainly due to Bitcoin’s decentralized nature which allows users to stay out of reach from central banks’ policies which may sometimes be dubious. Additionally, its fixed supply cap ensures inflation does not affect its value over time making it an attractive store of value for millennials.
Why Is Bitcoin Considered A Safe Haven?
Due to these advantages, millennials regard bitcoin as a safe haven asset where they can diversify their portfolio during periods of economic volatility or instability caused by geopolitical events or global pandemics – such as COVID-19 – which has seen many countries introduce drastic measures including money printing leading to currency devaluation.
The survey results demonstrate that nearly two thirds of millennials view bitcoin favorably and believe it offers them financial freedom while also providing protection against uncertain economic conditions caused by external factors beyond their control.