In a recent interview with Bloomberg experts, Nate Geraci, President of ETF Store, while talking about the Bitcoin ETF approval, hinted that younger clients were moving towards Bitcoin citing better investments. He also acknowledged that the demand for investing in BTC had increased, when compared to Gold and said,
“When we talk to our younger clients, we have a core allocation in our portfolios and they’ll ask about that and say well, what about crypto?And if you talk to primarily millennials and ask them which they prefer, Bitcoin or Gold? its a landslide!”
This comes at a time when the battle between Bitcoin [BTC] and Gold in terms of value has been raging. Proponents of the cryptocurrency have proved that BTC is the next big thing in the market and have left no stone unturned in doing so.
CEO and Founder of Digital Currency Group, Barry Silbert, had launched an advertisement that took a dig at Gold and started the #DropGold campaign in an attempt to urge conventional investors to invest in Bitcoin, the ‘Digital Gold.’ Silbert claimed that the campaign aimed at attracting millennials to invest in Bitcoin, rather than Gold.
Gold, being the oldest store of value before the arrival of cryptocurrency, drove people to be reluctant about investing in BTC. This was a common notion among seasoned conventional investors in Gold, who put up a good fight against the king of cryptocurrency.
This debate has brought to light both the pros and cons of Bitcoin and Gold. While BTC has proven itself with respect to being a mode of payment, its volatility is unpredictable. Gold, on the other hand, is seen by many as a safer investment.
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