Bitcoin (BTC) especially popular with young people during COVID-19 pandemic, study JPMorgan shows »Crypto Insiders

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The coronavirus outbreak has caused quite a stir on the markets. In an effort to better understand investor behavior during this crisis, the major US bank JPMorgan recently examined different age groups and how they invest in asset classes like bitcoin (BTC).

Perhaps not entirely surprisingly chose the baby boomers, persons born between 1946 and 1960, generally for safe assets that are not volatile. These are, for example, gold and government bonds. Investors in this age group also mainly stayed away from stocks of tech companies.

The research team was led by Nikolaos Panigirtzoglou. He said the following about the findings:

“The older cohorts continued to use their excess liquidity in bond funds, with arrivals remaining strong in both June and July.”

Panigirtzoglou added that according to their findings, “the elderly buy gold while younger generations buy bitcoin.” The latter finding is not entirely surprising, as young people generally find bitcoin more attractive where older people may stay away because it is complicated and new. A good example of this is the well-known investor Warren Buffett, who once called bitcoin “rat poison squared”.

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The fact that it is mainly young people who buy bitcoin may offer a positive perspective for the future. Apparently, they are more likely to buy bitcoin in times of crisis. The fact that more people are buying bitcoin can also be seen in the number of new entities on the Bitcoin network. That number has been growing very fast since the recent increases in the bitcoin price!

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