Young People Are More Likely to Invest in Bitcoin

According to a newly launched survey, more than 50% of young people born in the 2000s have a positive view of bitcoin and are twice as likely to have it compared to other age groups.

Young’ enthusiasm for Bitcoin surpasses all other demographic characteristics

More than 2,000 US adults were questioned by Harris Poll in one of the most comprehensive bitcoins surveys to date. The survey, conducted Oct. 18-20, provides a fascinating insight into how adults of all ages perceive bitcoin. However, it is between the 18-34-year-old generation (millennials) – that the greatest divergence from the rest of the population is seen.

Digital Currency for a Digital Generation

Almost a third of them say they are likely to buy bitcoin over the next five years, against just 19% of all Americans.

Spencer Bogart, Managing Director of Blockchain Capital, said:

“The results of the survey reinforce our belief in the tremendous opportunity that is to come to Bitcoin.”

Bitcoin still has some way to go before overtaking other financial assets as a desirable pool of wealth; 30% of millennials surveyed said they would rather own $1,000 in bitcoin versus $1,000 in government bonds. That number drops to 27%, 22% and 19%, respectively, when bitcoin is compared to stocks, real estate and gold.

Divided by Decades

Not surprisingly, the survey shows a significant difference between the youngest adults questioned and those over 65 years. 16% of younger people say they are likely to buy bitcoin over the next five years – a figure that drops to just 2% among over 45 and zero among those over 65. Over 65 are also ten times less likely to perceive bitcoin as a positive innovation than the younger ones and are significantly more inclined to see bitcoin as a bubble.

92% of those over 65 believe that large banks are more reliable than bitcoin (versus 73% of the younger ones).

Divided by Genres

The other great research fact is the division between the sexes when it comes to the enthusiasm related to bitcoin. It’s no secret that the crypto-currency space is dominated by men, with Google Analytics results suggesting that less than 4% of all participants are female. This fact was reinforced by the survey, which revealed that twice as many men own or possess bitcoin and are almost three times more likely than women to buy bitcoin over the next five years. Men also have a more positive view of bitcoin (17% versus 7%). When pressed on the likelihood that “most people will be using bitcoin over the next 10 years,” the gender disparity decreases, with 9% of all respondents strongly agreeing.

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About the Author: Jane Taylor

Jane is a 25-year-old from Kentucky that loves to share her passion for technology with others. Apart from running her own YouTube Channel (thetech2020), which uploads weekly videos that cover ground-breaking new technology, she spends her time developing enterprise software. She recently spent her summer working at BlackBerry as a software engineer, and will be returning this summer. In regards to academics, Jane studies Electrical Engineering & Computer Science at Guelph University and in her free time, she loves to watch hockey, read, and hang out with friends. To contact Jane, just click here

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