Millennials Invest in Bitcoin, while Older Investors Trust in Gold

Older generations invest in gold, while millennials are flocking to bitcoin, according to a note from JPMorgan this week.”The two cohorts show divergence in their preference for ‘alternative’ currencies,” a team of analysts led by Nikolaos Panigirtzoglou wrote.┬áMillennials prefer to invest in tech-related stocks, while the older investors are selling equities.As both age groups see the potential in alternative currencies, both gold and bitcoin exchange-traded-funds have experienced strong inflows in the past five months.Join Telegram channel to be always up-to-date with the latest news of the cryptocurrency space.The simultaneous flow support has caused a change in the correlation pattern between bitcoin and other asset classes, with a more positive correlation between bitcoin and gold but also between bitcoin and the dollar as US millennials see bitcoin as an ‘alternative’ to the dollar.