COVID-19 is driving Bitcoin adaption in youth: Mike

COVID is driving Bitcoin adaption in youth Mike

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In the latest cryptocurrency theory, COVID-19 is driving Bitcoin adaption in the youth, i.e., the generation Z. Michael Novogratz believes that while the economy is in the shackles of Covid-19, generation Z is gaining more interest in Bitcoin day by day.

Mike Novogratz, chief executive officer of Galaxy Digital recently tweeted his reasoning on why Millenials and other young actors are preferring Bitcoin over traditional assets. The statement comes at a time when Bitcoin adaption is evident since the Bitcoin price is rising despite the down market.

COVID-19 driving Bitcoin adaption in Generation Z?

Per Mike’s reasoning, since the equity markets are falling due to Coronavirus, major traditional assets like S&P and gold are going down with them. However, the King coin BTC seems to be firm in its position in the mid-$6,000 zones.

Mike Novogratz explained that the young generation is experiencing all of this first hand. As the motto ‘Bitcoin fixes it’ is reiterated frequently in the crypto community, Mike believes this is the reason why Millennials are preferring Bitcoin over traditional assets.

According to Mike, the ongoing ‘QE infinity’ measures initiated by the federal reserve system will bankrupt the USA, as a total of $2 trillion is being infused into the economy along with the ‘free cash’ scheme offered to US citizens by President Trump.

Many popular crypto influencers have attacked this move by the Government.

One such crypto influencer going by the twitter handle @APompilano tweeted the events that unfolded recently in the USA as a result of Covid-19. Governments shut down small businesses and forcefully unemployed millions of people. The influencer further stated that offering people $12,00 is not a solution.

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Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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