bitcoin Over Gold
During yesterday, a financial advisory head said () exchange-traded funds () are preferred over their gold counterparts by millennial investors. Nate Geraci, the head of The Store, an investment advisory group that seemingly specializes in funds, noted that many of their younger clients ask if they can replace a core gold holding, seen as a hedge/non-correlated asset, with one that holds , namely . In fact, Geraci quipped that 90% of their millennial clients suggested over the precious metal.
The thing is though, there isn’t a regulated product that such prospective investors can allocate capital towards. Just the other day, the that it will be exercising its right to delay its decision on a proposal from VanEck and SolidX. The agency cited concerns such as there being not enough infrastructure to prevent “fraudulent and manipulative acts and practices”. And, the current products ready for retail investors (but not really), like Grayscale’s Trust, is often priced well above the spot market, implying a premium that can hurt investors.
Yet, the reassuring thing is that there is massive interest for the leading , and likely its ilk too.
Other data would confirm this. As Capital earlier this year, 42% of 18 to 34 year olds stated that they want to purchase over the next five years, compared to just 25% for those aged 45 to 54.
Millennials May Be Crypto-Friendly, But Not Seniors
Sure, the millennial population may be all for , but not their parents/grandparents.
According to a of 1,000 retirees in America conducted by Gold IRA Guide, a finance magazine, isn’t all too popular with seniors. In fact, one-third of the respondents didn’t even know of , in spite of the fact that it plagued mainstream television stations and media outlets throughout 2017 and early-2018. What’s worse, however, is the fact that 56.7% of those surveyed stated they knew of , but were hesitant to own any. These “no-coiners” chalked up their decision to the fact that they believe that are “completely imaginary constructs” and susceptible to jaw-dropping bubbles.
Any risk obviously deters risk-averse retirees. As Gold IRA’s head editor, Mark Turner, stated:
“Taking into account this most popular survey response, must do a better job of educating and explaining the many benefits its underlying technology offers businesses and industries to this audience. It also must dispel the myth that it is a completely imaginary construct with no real life value – something that tends to scare away older investors who remember bubbles all too well.”
It is important to note that 2.7% of respondents did claim that they owned , but this is far from anything to write home about.
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Published at Fri, 24 May 2019 00:39:08 +0000
