JP Morgan Claims Young Investors Like Bitcoin While Older Ones Like Gold

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JP Morgan (Courtesy: currency.com)

The world of digital currency has seen varied investors putting their foot in the market from across the globe. Age or culture or even occupation is no bar for trading as the Bitcoin has been used by drugdealers to mafias and regular businessman as well without any hesitance due to its easy usage.

JP Morgan strategist led by Nikolaos Panigirtzoglou has now claimed that younger investors are interested in bitcoin, while older investors prefer buying gold.

Bloomberg reported the news on Wednesday, citing an August 4 note by JPMorgan strategists, who further said that millennials are also preferring tech stocks. In contrast, older investors are selling shares and buying bonds.

“The older cohorts continued to deploy their excess liquidity into bond funds, the buying of which remained strong during both June and July,” the strategists wrote in the note.

In the recent past both Bitcoin and Gold have rallied up. However, it is worth noting that there is currently “negligible” correlation between gold and bitcoin, at 0.05, according to tracker CoinMetrics.