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Bitcoin has yet to completely die out in the crypto ecosystem despite suffering a major decline in the past six months. Dire as Bitcoin’s situation is, its existence is allegedly helping young people get exposed to other economic markets.
As such, this could lead to them exploring, and possibly investing, in the industries that capture their interest. This claim has been made by Gabor Gurbacs, digital asset strategist and director for the MV Index Solutions subsidiary of VanEck, NewsBTC reported.
Gurbacs argued that the curiosity of millennials surrounding Bitcoin is an important education for them to understand how other markets behave. This is important given that millennials are staying away from traditional markets and is gravitating towards risky assets despite one being stable than the other.
MarketWatch reported that this aversion is due to young people witnessing the Great Recession where they saw their parents’ investment getting wipe out. According to statistics, only one in three millennials is interested in investing in the stock market, as opposed to the older generation where 50 percent are willing to give it a shot. But thanks to Bitcoin and other cryptocurrencies penetrating the mainstream media, young people are finally exploring their investment options.
Indeed, this trend has already been observed in recent years where universities offering education regarding blockchain and cryptocurrency has seen an increase in interest. This is not surprising given that blockchain projects are spawning left and right even though the crypto market as a whole isn’t doing all that well. With Bitcoin off to a poor start this year, it will be interesting to see what other crypto assets will young people scrutinize.
As of this writing, Bitcoin is exchanging hands at #3,495 and is up by one percent in a 24-hour period. This prolonged bear market, called crypto winter, is still persisting and is even speculated to go “nuclear” should Bitcoin’s price fall below $3,000.
