A complete ban of cryptocurrency assets has been reported by many to be difficult to implement.  Thus, it just looks like most countries are in for crypto regulation.

Professor Jeremy Siegel at the Wharton School of the University of Pennsylvania expressed, “Bitcoin Has Replaced Gold for Millennials.”

Millennials have been described as the first global generation and the first generation that grew up in the Internet age. Millennials, also known as Generation Y or Gen Y, are the demographic cohort following Generation X and preceding Generation Z.  For improved clarity, anyone born between 1981 and 1996 (ages 23 to 38 in 2019) is considered a Millennial.

Reportedly, Gen Z and millennials pay three times as much in banking fees than older generations.  It is obvious that ease of usage is very important for younger consumers when it comes to adopting to the usage of banking products.

The younger generation are trying to sort out a lot of things in the early stage of their careers – this is also true about what they consider the new store of value.  Bitcoin is increasingly used by millennials as a Store of Value (SOV).

Bitcoin is hailed to be the solution to inflation and the millennials are in agreement with it for several reasons.

Bitcoin and several other altcoins are designed in a way to experience predictable and low rates of inflation. Bitcoin is appealing to investors because they are resistant to inflation when compared to fiat currencies like the U.S. dollar. Thus, BTC is becoming very appealing because it is very resistant to inflation.

According to a Survey, more than 49% of the millennials are comfortable with investing in crypto assets like Bitcoin, when compared to Generation X and baby boomers. In fact, millennials (ages 25-40) express the most comfort when compared to all age groups with cryptocurrency.

Several millennial millionaires do have the bulk of their wealth invested in crypto, and they are reportedly planning to include in 2022 not minding their recent price declines.

While discussions about determining the best hedge against inflation is continuing – majority of the discussions are related to Bitcoin pitched versus Gold.  Bitcoin’s supply limit of 21 million coins with 18.9 million already in existence makes it a very attractive hedge.

During 2021, inflation touched upon the highest rates when compared to 40 years.  Doubts are mounting as to whether the price of gold will soar in an inflationary environment.  Despite many of them continue to believe that precious metals are a good investment.