Young investors are flooding into bitcoin in the pandemic, while the older generation can't get enough of gold, a team of JPMorgan analysts said
Business Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
, analysts from the bank said."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."
Both gold and bitcoin exchange-traded-funds have experienced strong inflows in the past five months, as both age groups see the potential in alternative currencies, the note said.Millennials also have a particular fancy for stocks, especially ones in technology, but the older investors are selling equities, the team wrote in a note dated August 4.
"Younger cohorts of US retail investors show little interest in bond funds," they said, adding that "they also avoid equity funds, preferring to invest in equities directly by buying individual stocks, especially tech stocks.""The older cohorts continued to deploy their excess liquidity into bond funds, the buying of which remained strong during both June and July," they wrote.
Read More:MORGAN STANLEY: The government's recession response has the stock market heading for a massive upheaval. Here's your best strategy to capitalize on the shift.The parallel buying of US equities and bitcoin by millennials has increased the correlation between bitcoin and the S&P 500 index since March, JPMorgan said.
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," the note said.
Gold hit a record highthis week, climbing above $2,000 per ounce for the first time ever as traders piled into the so-called safe haven precious metal and on hopes of further US stimulus measures. "Acting as a measure of market anxiety, gold smashed through the $2,000 per ounce ceiling for the first time in history overnight – four and a half months on from the sub-$1,500 lows seen before the coronavirus crisis took hold of the West," Connor Campbell, a financial analyst at SpreadEx, said in a note.
Last week,as the millennial-favorite traded near its highest level in almost a year amid US dollar weakness and a broadening shift to alternative assets. Read more: Business Insider »
Trump's ABC town hall: President faces tough questions on coronavirus response, health care, racial injustice
President Donald Trump took questions from uncommitted voters in Philadelphia in a 90-minute town hall special hosted by ABC News.
Bitcoin is future. Altcoins.. emmm I'm not too sure 😂 barrysilbert xrpthestandard barrysilbert 👍 So mid-long term bitcoin will win, as the next generation drives this trend. Besides bitcoin is at ~60% of ATH (Ethereum at ~30%) , while gold is already at ATH, so I think bitcoin / Ethereum will be short term winners too as they offer more upside potential.
barrysilbert imagine when generation z begins to have purchasing power. Those young people are completely digital. I have a small amount of both. Just to be sure 😅 barrysilbert Guess I'm bipolar So, whats the future of gold then? Fyggex barrysilbert ... wait till they get a taste of DeFi and staking on Ethereum
barrysilbert Everyone is flooding into Bitcoin barrysilbert I’m older and flooding into Bitcoin .... could also be the age related incontinence too 😀 barrysilbert LMFaO DUMP THE CHIBESE PONZI. EaSY SHORT DUMP IT You can run but you can't hide ⌛ DermoSNR - stick to your gold mate! :0) Bitcoin is the future fyggex
'Our Pain is Not An Asset': Inside the Breakdown of the Wall of MomsLast Wednesday, Portland’s leading anti-police violence and Black-led organization Don’t Shoot Portland posted a message on their Instagram account, documenting a break with the Wall of Moms, a loose grouping of largely white women that had formed in response to the Trump administration’s sending of federal law enforcement agents to the city and the violence directed against Black Lives Matter protesters. The Wall of Moms had begun as an effort to use their bodies as a physical barrier between protesters and federal agents, using their status as so-called “Target moms” to both protect protesters and proclaim that white mothers believed that Black lives matter. After the first night, they kept going and growing, transforming from a one-off Facebook event into something that could be called an organization. In the two weeks since they first linked arms and sang lullabies at protests, the moms in yellow t-shirts and gas masks had gained so much attention, most of it glowing, that they had inspired similar groups to organize in other cities.
How the Oreo went from knock-off to the world's favorite - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Cambria_Hotels Awesome little history lesson.
Searchable database of Business Insider pitch decks - Business Insider[Thread] Startups convince investors to fund their ideas using pitch decks. Business Insider regularly seeks out and publishes these decks to give readers an inside look at how successful companies persuaded investors to fund them. For the first time, these decks—presentations that combine slideshows with storytelling—have been combined into a single, searchable library that you can explore. 👇
Business Insider webinar: How influencers earn money in pandemic - Business InsiderSIGN UP NOW: Next week we're talking to YouTube and Instagram influencers with millions of followers about how they're adapting their businesses during the pandemic and earning 6-figure incomes
Business Insider's best investing stories of July 2020 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
JCPenney is selling its historic century-old founding store in Wyoming - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.