Key facts:
Willy Woo indicates that investment in gold and stocks fell, while that of bitcoin rose.
Most of the people who decide to invest in bitcoin are under 50 years of age.
Different studies reveal that the interest and use of bitcoin (BTC) as an investment has increased significantly in recent years. Compared to this, other assets, such as gold, have suffered a buying decline in the same period.
This was recalled this week by bitcoin analyst Willy Woo, who shared some sources crediting him on his Twitter account. One of them is the study made by the digital asset manager Grayscale Investmentswhich holds that more than half (55%) of people who currently own bitcoin started investing in the last year.
It precisely indicated that 59% of respondents are interested in bitcoin, which marks a notable increase from 2020 (55%) and 2019 (36%). Michael Sonnenshein, the CEO of Grayscale Investments, stated that this result confirms that more investors see long-term value in adding BTC and other cryptocurrencies to their investment portfolios.
Compared to this, Willy Woo points out that for by then investment in gold had begun to declineAccording to a survey conducted in the United States by Gold Rage Guide. This indicates that the purchase of this asset went from 12% to 10.8% from October 2019 to September 2020, when the price of gold touched the same value ($1,938) than the current one in March 2022.
Like gold, interest in other investment assets has also fallen. At least, this can be seen in the report of Gallup where it was noted that they lowered the purchase of stock shares of publicly traded companies from 63% in 2004 to 56% in 2021.
The year 2022 will be a new challenge for bitcoin. With a war in Eastern Europe and a possible global economic crisis, commodities like gold have risen in value and are back on investors’ minds. However, the cryptocurrency does not seem shaken by the events and has just reached $47,000 again.
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Interest in investing in bitcoin increases among young people
Amid a landscape in which interest in traditional investments declines, bitcoin has captured strong growth. Above all, among people who are under 50 years old.
In the United States, for example, which is one of the countries with the highest adoption of bitcoin in the world, Cryptocurrency holdings increased by ten percentage points in five years among people under 50. That is, more and more young people are interested in acquiring cryptocurrencies. This result throws gulupwhich indicates that it went from 3% to 13% from 2018 to 2021.
While, among the largest, it only rose two percentage points in that same period. Precisely, the group of people over 50 years of age is the one most inclined to buy traditional assets, such as gold or stocks. Probably this occurs due to the technological barrier and the custom that generate resistance. Although this preference continues to decrease year after year at the same time that the investment in bitcoin grows.