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JPMorgan: young investors have flooded into bitcoin during the pandemic

August 13, 2020 By Crypto Reporter

More funds have poured into the cryptocurrency market and precious metals

The investor preferences have split down the middle in accordance with the age group, according to JPMorgan note this week. The older generation sticks with more conservative asset – gold, while younger folks opt for digital currency, reports Business Insider.

“The two cohorts show divergence in their preference for ‘alternative’ currencies,” a team of analysts led by Nikolaos Panigirtzoglou wrote. “The older cohorts prefer gold while the younger cohorts prefer bitcoin.” 

The analysts mention that in the past 5 months the two markets, that of gold and cryptocurrency, have seen significant capital inflow. Apart from that, there’s also a divergence in the choice of securities. The millennials are inclined to buy tech companies stocks, whereas older investors, on the contrary, choose to put spare liquidity into bonds.

“Younger cohorts of US retail investors show little interest in bond funds,” it was said, adding that “they also avoid equity funds, preferring to invest in equities directly by buying individual stocks, especially tech stocks.”

In mid-June in a letter addressing clients JPMorgan wrote that bitcoin is likely to survive as an asset class, but “more as a vehicle for speculation than as a medium of exchange or store of value.”

Filed Under: General News, News Tagged With: bitcoin, cryptocurrency, gold, JPMorgan, news

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