JPMorgan: older generation investing in gold, younger generation investing in bitcoin

Analysts at an investment bank reported an influx of capital into the cryptocurrency marketand precious metal, andtold what assets experienced investors sell, but young ones acquire.

During the current crisis, investors' preferences of where to invest have diverged depending on theJPMorgan Chase & Co. said in a research note.The company found that the older generation adheres to a conservative way of saving capital - buying gold.The younger one makes a choice in favor of bitcoin and other cryptocurrencies, reportsBusiness Insider.

“These two groups show divergent preferences. The elders prefer gold, and the young prefer bitcoin, ”JPMorgan said.

Analysts noted that in the past 5 monthscapital inflow to both markets, gold and cryptocurrency, has significantly increased. In addition to these assets, investor preferences differ in the case of securities. Millennials are buying up technology stocks. The older generation, on the contrary, sells them and in return invests free funds in bonds.

In mid-June, JPMorgan analysts wrote toa letter to customers that bitcoin will consolidate its status as a new asset class. But cryptocurrency is unlikely to be able to become a single unit of account or a defensive asset that can preserve capital. It is more likely that it will remain a subject of speculation.

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