Category Archives: market watch

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High-Earning Millennials, the Newest Wave of Crypto Buyers

A new Clovr survey of investment potential has put high-earning millennials at the center stage when it comes to owning cryptocurrency.

These latest figures confirm with the results of other surveys conducted this year, showing that it’s millennials with money who appear to be taking on cryptocurrency in ever-increasing numbers. This is partly due to the lack of investment options in tradition areas. The Clovr study shows that it is those with annual incomes of between $75000 and $99999 that have become serious investors.

With a huge 43% of men in the US between 18 and 80 having at least some investments in cryptocurrency, it appears that there is little cooling off in enthusiasm for digital currency investments despite the drop in Bitcoin’s price this year. US Bureau of Labour Statistics Data suggests that ownership drops off to one-fourth of that percentage showing interest as salaries drop to less than $25,000 a year.

An encouraging signal for the industry emerging from this survey figures shows that one out of three US respondents say that they would be far more interested in crypto investment than traditional stocks and bonds with as many as 80% of the respondents identifying investment in cryptocurrency as less risky than the standard options available.

It is clear that millennials are completely at the forefront of the crypto space, and without them, it is hard to imagine that Bitcoin would have even got off the ground. “Over 82% of millennials say their investment decisions were influenced by the Great Recession when $14 trillion in wealth was lost,” writes Kari Paul of MarketWatch, adding that, “Millennials regard the stock market with skepticism. People between the ages of 18 and 39 are less likely to invest money in the stock market than are other generations, studies show.”

Other surveys seem to be indicating that such views aren’t simply limited to the US; with UK millennials expressing a total distrust of banks and their lack of interesting options. A survey in May revealed that 27% of Millennials viewed Bitcoin as more trustworthy than big banks, with investors preferring to hold USD 1,000 in Bitcoin over USD 1,000 in stocks; 22% suggested that they would have preferred to hold the same sum of Bitcoin over real estate investment, and 30% would take Bitcoin over government bonds.

The number of women showing an interest in investing in cryptocurrencies in the UK has gone from 6% to 13% this year.

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US Investors “Intrigued” By Bitcoin But Millennials In Touch Says Wells Fargo Poll

A Wells Fargo Gallup Investor And Retirement Optimism Poll conducted earlier this year suggested that the percentage of Americans owning Bitcoin currently stands at 2% but many are ‘intrigued’.

The poll was aimed at adults with at least $10,000 invested in traditional funds and targeted 1,921 investors over 18.

Young investors came out of the poll somewhat unsurprisingly as the most adventurous, claiming they would have no hesitation buying Bitcoin if the digital currency were more mainstream. This clearly shows where the drive towards greater adoption will originate from as Bitcoin becomes more established on financial markets: something now beginning to happen on Wall St.

US Gallup Poll Shows Only 2% of American Investors Own Bitcoin

Bitcoin News has published a number of reports this year which illustrate this tendency of Millenials pulling away from traditional finance towards digital currency. An interesting factor thrown up by this particular poll was the number of American investors who expressed themselves as being “intrigued” by Bitcoin, indicating that there is clearly a vacuum of education in the markets.

There was a high element of investors who saw the flagship digital currency as “risky” preferring to play it safe with their investments. Lydia Sadd who authored the report commented that it was clear that most investors seem prepared to bide their time, currently reliant only on what they understand.

Again, it appears that education regarding cryptocurrencies is generally lacking; most people prepared to rely on news reports which generally thrive on fear and uncertainty in the market or blow cryptocurrencies successes into gargantuan proportions. Neither of these extremes does anything for public confidence in new digital financial technologies.

It is clear that millennials are completely at the forefront of the crypto space, and without them, it is hard to imagine that Bitcoin would have even got off the ground. “Over 82% of millennials say their investment decisions were influenced by the Great Recession when $14 trillion in wealth was lost,” writes Kari Paul of Market Watch, adding, “Millennials regard the stock market with skepticism. People between the ages of 18 and 39 are less likely to invest money in the stock market than are other generations, studies show.”

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Millennials, Bitcoin and a Tech Breakthrough to Support the Rest: An End to Drudgery?

A Pew Research Center study shows that millennials have overtaken Generation Xers to become the largest generation in the US labor force.

It is a position that millennials have actually held in the US since 2016, outpacing Gen Xers and Baby Boomers with 56 million working, or looking for work, compared to 53 million and 41 million respectively. The Pew study shows that 35% of the US labor force are millennials.

The Pew Research Center is a nonpartisan American think tank based in Washington DC that provides information on social issues, public opinion, and demographic trends shaping the United States and the world.

The report shows that as Baby Boomers numbers recede so will their influence and their opinions about lifestyle, principally money, and how it’s earnt.

Disruptive technologies will continue to show that many of the conventions that have been held up as untouchable – designed to persist for all eternity – are social constructs that can be diminished, rewritten and completely extinguished, writes the Daily Hodl, citing US theorist, author, and more significantly, “futurist” R Buckminster Fuller, as a portent for the future of youth employment:

“We should do away with the absolutely specious notion that everybody has to earn a living. It is a fact today that one in ten thousand of us can make a technological breakthrough capable of supporting all the rest. The youth of today are absolutely right in recognizing this nonsense of earning a living. We keep inventing jobs because of this false idea that everybody has to be employed at some kind of drudgery because according to Malthusian Darwinian theory he must justify his right to exist.”

It is clear that millennials are completely at the forefront of the crypto space, and without them it is hard to imagine that Bitcoin would have even got off the ground. “Over 82% of millennials say their investment decisions were influenced by the Great Recession when $14 trillion in wealth was lost,” writes Kari Paul of Market Watch, adding, “Millennials regard the stock market with skepticism. People between the ages of 18 and 39 are less likely to invest money in the stock market than are other generations, studies show.”

Fuller’s recommendations ring truer than ever in 2018, the inventor of the Geodesic Dome may have been right when he talked about “this nonsense of a living” as conventions are being broken daily by society’s younger, adventurous, and certainly more mobile members.

According to a survey by WeLance, the millennial digital nomads are mostly male (64%) and work in a range of professions from programmers (22%) to online marketers and designers (17%). About 9% visit ten different countries in a 12-month period, with 32% visiting five to ten countries and 29% visiting three to five countries.

Millennials are exploring their options in the face of commutes and 9-to-5 jobs, the drudgery which Fuller warned of. Despite recent records showing 85% of them say they’re happy with their lives, it remains to be seen if this group will heed his other proposition that “One in ten thousand of us can make a technological breakthrough capable of supporting all the rest”.

The breakthrough may have arrived.

 

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