Morgan Stanley Executive Highlights Millennial Interest In Bitcoin Over Gold
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For a long time now, the argument that Millennials are more invested (interested) in bitcoin and Cryptocurrency is something many people are confident on when they give their thoughts on the matter. Millennials are seemingly more comfortable holding bitcoin in their portfolio rather than traditional assets such as gold, this comes from the chief global strategist at Morgan Stanley, Ruchir Sharma.
In an interview that took place on the 8th of September earlier this week, the strategist highlighted that younger investors are looking more towards Cryptocurrency than the precious-metals of gold. He further said that he believes older investors are still investing in gold whereas Millennials are buying more bitcoins and cryptocurrencies.
There is a particular reason for this and many people would put it down to generation differences. But part of the reason that Millennials look to bitcoin is a better investment than gold, specifically down to the policies that are undertaken by central banks in order to revive the economy. Especially now, in times of coronavirus.
The strategist further went on to say:
“Generally, I think what’s that telling you is that there is this lingering feeling out there that given what central banks are doing in terms of printing so much money, there is a search for alternative assets. So, I think that these assets could keep doing well.”
He even went on to say that even though the interest rates adjusted for inflation or negative, gold can still prevail. Even last month, gold hit a historic high of $2000 with him expecting this trend to continue for a long time, even if inflation comes back to the economy.
Even though Sharma advises people to invest 5% or more of their portfolio to gold, it’s worth noting that we are not financial advisors and this is not financial advice! Please do your own research before investing in a Cryptocurrency.