Bitcoin’s appeal amongst the upcoming generation has been seen as a metric for its popularity as well as future adoption rates. The growing interest from the millennials has put Bitcoin on the map as a viable trade asset and that was even evidenced in a market analysis conducted by Matt D’Souza.
After surging through the financial space using advertisements and online campaigns, Grayscale Investments caught the eye of the mainstream as well as the digital asset market for being an effective financial mouthpiece. D’Souza, the co-founder of Blockchain Opportunity Fund pointed out that Grayscale Bitcoin Trust was among the top 5 equity holdings for millennials. This comes at a time when millennials have surpassed baby boomers as the largest generation in society right now.
This increase in the user base for Bitcoin has been taken as a clutch moment for the world’s largest cryptocurrency. For the first time since its inception, Bitcoin has seen efforts from all quarters to raise its mainstream appeal rather than bring it down. Matt D’Souza further added:
“A report from Charles Schwab has found that Grayscale Investments Bitcoin Trust, a publicly tradable Bitcoin and cryptocurrency investment vehicle, is among the top five equity holdings for Millennials, next to technology giants Amazon, Apple, Tesla and Facebook—and ahead of investor darlings Netflix and Microsoft.”
The report clearly indicated that 1.84 percent of millennials had placed their trust in Grayscale’s Bitcoin trust over stalwarts such as Berkshire Hathaway, Walt Disney and Netflix. At the same time, Grayscale did not even make it to the top 10 of the baby boomers list as industry giants such as Apple and Amazon led the way there. Millennials too had a firm hand on the technology company tiller as Amazon and Apple were their number one and number two investment choices.
Sources have suggested that the future of digital assets will be driven by Millenials and Gen Z who already live in the digital world. The theory is that every generation after the baby boomers have been exposed to the benefits of the internet in full context and hence they will try to capitalize on it. D’Souza also claimed:
“By 2029, Millennials will account for the largest percentage of the World’s disposable income. As the economic influence of Millennials continues to expand so will the demand for Bitcoin. We are presently witnessing this in Millennial Equity Holdings with Grayscale Bitcoin Trust being a top 5 investment among millennial holdings.”
Grayscale’s Bitcoin Trust was also in the news recently when its Assets Under Management [AUM] hit $1,868 million recently. At the same time, Grayscale’s Bitcoin Cash Trust had dropped by 0.56 percent with an AUM of $3 million.