As we have witnessed in recent years, bitcoin is a rather popular asset, but it seems to be making quite a bit of headway amongst younger crowds, many of whom do not trust financial institutions or standard banks following the dangers of the Great Recession in 2008 and the dismal state of the global economy that occurred soon after.
Bitcoin Appears to Be Attracting Younger Investors
It seems like many younger generations now view bitcoin and cryptocurrencies are far more trustworthy than standard stocks or fiat currencies, and examples of leading millennial investors can be found in today’s market at virtually every corner.
One of the most prominent young investors is Marko Vulicevic, who at the time of writing, is just 19 years of age. He already has several trading accounts on an assortment of exchanges and digital platforms. In addition, he also spends much of his time reading blockchain whitepapers and corresponding documents, he invests in a wide variety of ETFs, and has invested heavy amounts of money in an assortment of cannabis-based stock programs and crypto.
One of the big platforms he’s recommending to his followers is bitcoin mining firm Argo Blockchain Plc, which he claims has given him returns of approximately 1,400 percent in just the last year alone. Vulicevic says he is thrilled by what he’s seen so far and experiences a major rush every time he sees his accounts go up.
In a recent interview, he comments:
When I started to see the price fluctuations, it was like a dopamine rush, but when I started to learn more, like understanding the technology, the under-the-hood stuff and how it could perhaps change the world, that is when I realized this could be a serious chance for me to profit on a technological evolution event.
He further states that it’s much easier to remain focused and confident in blockchain and crypto applications given how transparent they tend to be. One of the big issues regarding standard banks, in his mind, is that they are far too private about their operations and are never clear on how they’re handling customers’ money. He states:
We don’t know how our banks lend out our money, who they give that money to or just in general how they operate in terms of risk management.
Who Is the Typical Crypto Trader?
David Yermack – a finance department chair at the New York University Stern School of business – says that people like Vulicevic are the prime bitcoin investors of tomorrow, and that most people like him are the ones you’re going to find most active in the crypto space. He comments:
The typical crypto investor is young and male, which means that they are more predisposed to take risk than the median investor. The volatility of crypto doesn’t faze them, and to many, it’s actually part of the attraction.