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Study: Millennials prefer Bitcoin to Investing in Gold

Study: Millennials prefer Bitcoin to Investing in Gold

The personal finance portal SimpleMoneyLife published a report on the role of bitcoin in the lives of users, as well as compiled data from research by other companies.

The report notes the popularity of bitcoin among a younger generation of investors. Millennials in 67% of cases will prefer bitcoin to investment in gold. One of the factors in favor of bitcoin is the limitation of its quantity:

“Unlike gold, we know perfectly well how many bitcoins are available on the market now and how many will be available in 2050. Bitcoin is better because it is more limited, ” the study notes.

The authors of the report expect that by 2025, the capitalization of the blockchain industry will exceed $40 billion. Technology can help in a wide variety of areas of the economy, including supply chains, election security, healthcare, and finance.

The distribution of wealth in the Bitcoin ecosystem is highly centralized. Only 2% of wallets control more than 95% of the extracted bitcoins. At the same time, 13.56% of coins are stored in only 100 addresses, and 70% of wallets store less than 0.01 BTC.

Earlier, the fact that investing in bitcoin is better than investing in gold was said by the IT director of the investment company BlackRock, Rick Rieder (Rick Rieder) and former hedge fund manager Stanley Druckenmiller (Stanley Druckenmiller).