Study Shows That Rich Millennials Are Going All In On Bitcoin

Cryptographer Nick Szabo hints that a 51% attack could be launched from massive Bitcoin transactions
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Of recent, a UK law firm, Michelmores and a research consultancy company, ComRes both interviewed over 500 people. Those who were selected had £25,000 or more of investable assets and born between the early 80s to late 90s. This study was to find out how many would be willing to invest in the new digital assets – cryptocurrencies.

However, the result of the study turned out to be an interesting one. It was discovered that 20% of those interviewed already had a share of the new goldmine. This, however, is contrary to the global percentage of people who owned crypto assets; which falls between 1-3% of the worlds’ population.

“The survey result that 20% of those interviewed have invested in cryptocurrencies contrasts with a recent survey by the FCA, which suggested a figure of 3% across the general population.

This suggests a willingness amongst millennials to move away from traditional forms of investment and to embrace new technologies, almost regardless of the risks – perhaps part of a new identity for a new generation,” says Andrew Oldland QC, senior partner at Michelmores while commenting on the outcome of the study.

Millennials Love Cryptos, No Matter What

Despite the FOMOs and FUDs, the younger generations think of cryptocurrencies as a better investment option. This is probably because they believe in its mission, or they see it as a faster means of making ROIs.

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But according to Michelmores’, it is said that this is just a common trait among generations, and their “lifestyles, outlooks, social and financial intentions, and attitudes to the modern world are often represented stereotypically in the media and common culture.”

A Global Trend?

Though this study shows what’s happening in the UK, earlier studies reveal that the same can be said about the US. According to a technical blockchain company, Clovr, 75% of over a thousand interviewed are interested in cryptocurrencies.

This has shown that despite the stringent regulations in the crypto space, they still consider cryptos as the top choice when it comes to investment options. Nevertheless, though the US isn’t too keen about cryptocurrencies, they are doing their best to further the growth of the blockchain.

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