The World Gold Council released results of a survey aimed to get a better insight into why and how people buy Gold for retail investment. Bitcoin interest vs. Gold was a part of the survey report that carried answers from 18,000 people.
Results found that over half of the retail investors had bought gold at some point in time. However, Bitcoin interest is proven to be very at the moment.
Why retail investors trust Gold
Gold is more trusted; in fact, over 60 percent of investors trusted Gold because of the store of value quality, and half of the interview also said that they would buy Gold in the future as an investment.
But as we go down to the younger generation aging between 18 and 38 inclusive, the popularity of Gold dropped by 34 percent.
The council explains that people aged between 18 and 24 took a short-term approach to investments, simply because youngsters wanted to enjoy and live in the moment.
Bitcoin interest vs. Gold
World council and Grayscale are both promoters of Gold and Cryptocurrency, respectively, to garner attention Grayscale started the initiative to let go of Gold as a form investment.
As a response, the council responded by conducting a study and releasing the findings to the general public, highlighting that cryptocurrency is no more than a risky and hazardous business intended to attract youngsters.
An unbiased look at the results
However, we can see that the result of the study suggests differently then what the council is proclaiming to be the truth. According to the survey, only 22 percent of youngsters think of cryptocurrency as a way to make a short-term investment. A quarter of the said demographic considered Bitcoin to be risky and dangerous but the Bitcoin interest is not affected anyway.
The study results also showed that although only one-tenth of the people owned crypto, almost one third thought that bitcoin would be the future of investment.
Bitcoin is a Demographic Mega-Trend: Data Analysis
The world Gold council described cryptocurrency as risky and dangerous and also described the younger generation as more capable of taking risks in investments, but the fact of the matter is that the council’s own findings fail to approve their claim.
From the findings, it is clear that at the perceiving level, youngsters do not think of virtual currency to be risky business. While the Bitcoin price movement is also not very promising at the moment Gold seems to be the only worthy comparable asset.
Featured Image by Elements Envato
